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  • HeavenAndEarth [she/her]
    ·
    7 months ago

    China does have a boom-bust cycle now https://kanebridgenews.com/chinas-40-year-boom-is-over-what-comes-next/

    • AssortedBiscuits [they/them]
      ·
      7 months ago

      Signs of trouble extend beyond China’s dismal economic data to distant provinces, including Yunnan in the southwest, which recently said it would spend millions of dollars to build a new Covid-19 quarantine facility, nearly the size of three football fields, despite China having ended its “zero-Covid” policy months ago, and long after the world moved on from the pandemic.

      Building a quarantine facility to handle Covid means your economy is down the shitter while no longer keeping track of Covid cases means your economy is booming.

    • LesbianLiberty [she/her]
      ·
      7 months ago

      While the claim may have merit, it requires more evidence than a WaPo article. The following paragraph is, I think, interesting.

      What will the future look like? The International Monetary Fund puts China’s GDP growth at below 4% in the coming years, less than half of its tally for most of the past four decades. Capital Economics, a London-based research firm, figures China’s trend growth has slowed to 3% from 5% in 2019, and will fall to around 2% in 2030.

      Stop the presses!!! Less than 4% yoy growth 😱??? This still far exceeds American growth. This article is old enough that updated data may have been released to confirm the authors' conclusions, so, to make a claim like that meritously it might be worth doing that and engaging with the data outside of a newspaper which is owned by one of the richest men in the world and based in the capital of the world's most brutal and extractive empire which benefit from anti-communist propaganda. I don't say this to dismiss any possibility of economic slowdown however, merely that the burden of proof on this is higher than WaPo.