Some particularly precious gems from this joke of an article include:
"history’s wildest property boom has turned to bust"
Are you talking about the 2008 crash of the US housing bubble? Oh, no, you're trying to spin the fact that China deftly avoided getting into a situation like that of the US before the crash by deflating its own speculative bubble in a calm and controlled manner into a bad thing.
"the global system of free trade that China used to get richer is disintegrating"
China's trade with the BRICS and the Global Majority is doing better than ever, meanwhile the West is the one torpedoing the "global system of free trade" by trying to freeze out Russia and China and in the process only shooting themselves in the foot.
"consumers are depressed"
Lol, and you claim to know this how? The data that shows Chinese people as among some of the happiest in the world? Looks to me more like it's the writers at The Economist and other similar bullshit artists who have been predicting China's imminent fall for decades who are depressed seeing China prosper instead. (If you meant "consumption is depressed" you should have written that instead, sorry, i can only respond to what you write.)
"deflation lurks"
Oh no, the horror! I'm positively terrified now imagining i am a person living in China and lower prices lurk just around a dark shadowy corner always waiting to strike when i am at my most unsuspecting! How will i possibly cope with the fact that i can buy more stuff for less money? Oh the humanity!
"entrepreneurs are disillusioned"
Yeah i bet they are. If by entrepreneurs you mean financial parasites and speculators and western monopolies hoping to keep the gravy train going continuing to milk every dollar they can out of China's people taking advantage of their labor force. They sure are disillusioned that they can't do that anymore now that China has advanced up the value chain, huh?
"A crisis in the property industry, which drives a fifth of gdp, will take years to fix"
Looks to me like they already did fix the crisis in the property industry by bringing it down from absurd overinflated levels to more reasonable size. Meanwhile the rest of China's GDP is largely driven by actual productive sectors of the economy and not speculative hot air, you know like the West used to have but doesn't anymore because of deindustrialization.
"It is forecast to lose 20% of its workforce by 2050."
Cool story bro. Let's say we take your "forecasts" at face value - ever heard of automation? Also, remind me again what the fertility rate and the average age of the labor force is in Europe?
"Mr Xi wants state power to accelerate advanced manufacturing industries, which will in turn create high-productivity jobs, make China self-sufficient and secure it against American aggression"
Oh yeah that sounds awful, who would ever want that? No, better to follow The Economist's advice and be an economic success story like today's UK.
"This eschews the conventional path of a big consumer stimulus to reflate the economy."
And i suppose that is going to conveniently require a bunch of loans right? Because Chinese people just aren't spending enough and taking out enough debt like Americans are. How else are the poor banks supposed to make a profit if the people aren't funding their gluttonous consumption with loans? And wait a second, weren't economists telling us just a few years ago that it's bad to just give people more money to spend because that causes inflation? Shouldn't you first make more stuff so people have something to spend money on?
"To induce consumers to save less requires better social security and health care, and reforms that open up public services to all urban migrants."
The sheer audacity of The Economist telling us that China's social security and public services are insufficient. Have you taken a look lately at neoliberal austerity and the dismantling of the welfare state in the West?! You wanna talk public services, how about you build some high speed rail first?
Its funny how they put quotes on "new productive forces" as if it was an alien concept 😂 this is a full copium article, i can imagine the face of the ghoul that was forced to write this.
Funniest shit i've read all week.
Some particularly precious gems from this joke of an article include:
Are you talking about the 2008 crash of the US housing bubble? Oh, no, you're trying to spin the fact that China deftly avoided getting into a situation like that of the US before the crash by deflating its own speculative bubble in a calm and controlled manner into a bad thing.
China's trade with the BRICS and the Global Majority is doing better than ever, meanwhile the West is the one torpedoing the "global system of free trade" by trying to freeze out Russia and China and in the process only shooting themselves in the foot.
Lol, and you claim to know this how? The data that shows Chinese people as among some of the happiest in the world? Looks to me more like it's the writers at The Economist and other similar bullshit artists who have been predicting China's imminent fall for decades who are depressed seeing China prosper instead. (If you meant "consumption is depressed" you should have written that instead, sorry, i can only respond to what you write.)
Oh no, the horror! I'm positively terrified now imagining i am a person living in China and lower prices lurk just around a dark shadowy corner always waiting to strike when i am at my most unsuspecting! How will i possibly cope with the fact that i can buy more stuff for less money? Oh the humanity!
Yeah i bet they are. If by entrepreneurs you mean financial parasites and speculators and western monopolies hoping to keep the gravy train going continuing to milk every dollar they can out of China's people taking advantage of their labor force. They sure are disillusioned that they can't do that anymore now that China has advanced up the value chain, huh?
Looks to me like they already did fix the crisis in the property industry by bringing it down from absurd overinflated levels to more reasonable size. Meanwhile the rest of China's GDP is largely driven by actual productive sectors of the economy and not speculative hot air, you know like the West used to have but doesn't anymore because of deindustrialization.
Cool story bro. Let's say we take your "forecasts" at face value - ever heard of automation? Also, remind me again what the fertility rate and the average age of the labor force is in Europe?
Oh yeah that sounds awful, who would ever want that? No, better to follow The Economist's advice and be an economic success story like today's UK.
And i suppose that is going to conveniently require a bunch of loans right? Because Chinese people just aren't spending enough and taking out enough debt like Americans are. How else are the poor banks supposed to make a profit if the people aren't funding their gluttonous consumption with loans? And wait a second, weren't economists telling us just a few years ago that it's bad to just give people more money to spend because that causes inflation? Shouldn't you first make more stuff so people have something to spend money on?
The sheer audacity of The Economist telling us that China's social security and public services are insufficient. Have you taken a look lately at neoliberal austerity and the dismantling of the welfare state in the West?! You wanna talk public services, how about you build some high speed rail first?
Its funny how they put quotes on "new productive forces" as if it was an alien concept 😂 this is a full copium article, i can imagine the face of the ghoul that was forced to write this.
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