from early August that showed China’s retail sector in steep decline, unemployment rising, and industrial productivity down. Hanging above it all was the guillotine blade of China’s jittery real estate market, which is threatened by imminent meltdowns from big property firms on one end, and a feisty “on Monday that China’s chronic coronavirus lockdowns are still a big reason for the slump:
August also saw an alleged surge in cases in the resort island of Hainan, where authorities have locked down holidaymakers, suspended flights, and shut businesses to contain infections. These are all very inconvenient developments for dictator Xi Jinping, who will attempt to secure an unprecedented third term in power at this fall’s Communist Party Congress.
The Chinese government has thus far avoided implementing big stimulus plans to jump-start the economy, but the central bank did surprise observers on Monday bytwo key interest rates and draining some cash from the banking system, evidently in a bid to stimulate demand for credit and blunt the effect of the “mortgage rebellion.”
If we don’t get the Democrats out of office the United States Will continue in downhill spiral that everyone seems to be overlooking!
Interesting that so many in US & UK are 'worried' about China's economy, but not their own
A PRC war with Taiwan could boost the economy!
just like the US economy