Biden calls China a 'ticking time bomb' due to economic troubles
U.S. President Joe Biden on Thursday called China a "ticking time bomb" because of its economic challenges and said the country was in trouble because of weak growth.
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What troubles?
Can you describe the troubles?
Are the troubles in the room with us?
They're straight up gaslighting LMAO. This is an actual, recent headline from the wsj:
Vibes based economics
Reaching levels of copium not thought possible.
One entrepreneur interviewed by The Wall Street Journal said that one of his businesses, a distributor for LED screens based in Shenzhen, is suffering from widening losses as overseas orders dry up, leading him to slash prices to compete for domestic clients. Having laid off more than 50 out of 120 staff since 2022, he said he is contemplating whether to shut the business this year.
every accusation is an admission or whatever
like whenever the us economy is booming because line go up, all while a few million people are housing/food unstable
Except official data doesn't look good? They haven't gaslit shit, they've been reporting slowing growth, decreasing exports, and deflation.
WSJ literally wrote an article "this is what I think China will do and that's why China bad"
What the fuck kind of journalism is that?
Export decrese is in line with almost every other east asian country and its very much so a "western economies go into recession and import less" problem. Groth slowing to ~5% is in line with what everyone is expected and China doesnt sweat too much about it. Its pretty solid especially since its higher quality. Deflation is only a problem if it persists for a long time and if it actualy spans in various types of commodities. If you exclude energy and housing everything else shows small inflation in China still and the real estate sector is going through tough but needed restructuring and regulation periods since last year. Deflation introduced from that part of the economy is more or less a by product of them deleveraging the sector and bursting some bubbles
he's probably referring to this https://thenextrecession.wordpress.com/2023/08/02/china-consumption-or-investment/
tldr chinas quarterly growth has slowed and liberal economists are claiming china's miracle is over. private sector investment has shrank 0.2% for the first time since data collection in 2005 but investment by state firms has expanded 8.1% in the same period. there's also a current global manufacturing recession. doesnt mean "its over" or whatever tf they're saying but interesting to note.