Carbon is…so complicated.
We were told that if only we installed those solar panels and switched from combustion engine cars to EV’s, it would all be sunshine and skittles shitting from unicorns.
Carbon is…so complicated.
We were told that if only we installed those solar panels and switched from combustion engine cars to EV’s, it would all be sunshine and skittles shitting from unicorns.
Evergrande, China’s flamboyant, overleveraged property developer whose defaults in September 2021 set off a chain of collapses across the sector, announced last week it still owes tens of billions of dollars to contractors, lenders, and suppliers and that its chairman is under criminal investigation.
China’s economic crisis has emboldened reformers who argue for structural change to the country’s economy, challenging other officials who contend that stimulus spending will put China’s productivity back on track, Reuters reported.
We have repeatedly provided Trends Journal subscribers with details and facts of China’s economic rise and fall. For over a decade we had forecast that while the 20th century was the American century, the 21st century would be the Chinese century... because the business of China is business while the business of America has been war.
As we have noted, China’s current economic decline is mostly self-inflicted.
The nation’s economy boomed at the greatest level in modern history when the U.S. allowed it to join the World Trade Organization some two decades ago. Their economy boomed as western companies gave the cheap labor communist nation all the high-tech intelligence and heavy industry manufacturing skills they never had... to make what they were selling.
Despite vowing policy support to jolt China’s economy back to life, the country’s leaders have done little other than make promises, global investors have said as they scaled back their expectations for China’s economic growth this year.
China’s factory activity continued weak in June, although less so than in April and May, government figures showed. Exports shrank in May at an annual rate of 7.5 percent.
New data shows China’s post-COVID economic recovery has vanished and is now weakening across a broad range of sectors, leaving it “teetering on the brink of deflation,” CNBC reported.
China’s manufacturing and services sector both slowed in May, offering more evidence that the growth spurt early this year after the government lifted anti-COVID restrictions has not lasted.
China’s manufacturing economy slumped in April, with the purchasing managers index (PMI) for the sector slipping from 51.9 in March to 49.2 last month.