It is evident that China will not have, as analysts had once predicted, a V-shaped recovery. An L-shaped one—a long-drawn-out climb out of a hole—is more like it. And that spells trouble for Xi Jinping.
i Jinping, during his appearance at the Chinese People’s Political Consultative Conference in Beijing on Saturday, talked about analyzing the Chinese economy from a “dialectical and long-term perspective.”
Should we be surprised that the Chinese leader is resorting to ideological circumlocutions when his economy is contracting and he knows he can’t rescue it soon?
The official National Bureau of Statistics reported that gross domestic product contracted 6.8 percent year-on-year during the first quarter of this year, the first announced decline since Beijing began issuing quarterly GDP statistics in 1992. Many assessments, including the widely followed China Beige Book, pegged the contraction at about 10 percent.
There has been a recovery this quarter, but it is hard to figure out the extent of the upturn. “It’s the worst information flow in my experience, which means since the 1980s,” Anne Stevenson-Yang of J Capital Research told me.
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WNU Editor: Gordon Chang has been predicting doom and gloom for the Chinese economy for years. But he may be right this time.
14 comments:
He's been wrong for so long. How does he maintain the title of "expert" on anything? He can't even speak the language.
Maybe Gordon has been right, but the PRC has been papering over the problem.
thank god our is ok
The US economy was Okay until Democrats used herd psychology to shut it down.
The budgets of the US and various states were not okay. The states problems could be solved by declaring bankruptcy and discharging the debts.
sir--
the Democrats do not control business, the Senate, the White House
stop being obtuse
Come on clerk that is a very poor effort on your part.
the economy got wrecked by the virus, which could have been helped a lot had Trump not fuckied things up
35million jobs lost were not lost by the Dems and calling me names show what a complete waste product you are
here is how we do things both right and wrong
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No matter how hard you try (and you do try, rather mindlessly) you never get it right clerky! But you are predictable.
Anon 1:59&4:49 is wrong again as usual. This is your so called "cleck" and once again you are to and soo stupid you can even pick and bully the right person. Why don't you just shut your trap and try to pay some attention to someone who is talking and making sense. You might finally learn something.
6:25 is the clerk /squirrel ?
How likely is that? Actual punctuation was used.
Learn from someone who spells clerk in punctuation marks as cleck, that's quite unlikely. As for shutting up I don't think so you're too much fun clerk.
Gordon Chang is a great guy, I respect him. The fact he is right can explain the aggressiveness of China. Any dictator exports his domestic problem.
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