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Thursday, July 28, 2022 9:06:00 PM
BLAME BIDEN! China’s economic growth slumps sharply after Covid lockdowns
BLAME BIDEN!
BLAME BIDEN! .. or really maybe congratulate him? Or, actually neither.
Analysts do not expect a rapid economic recovery in China.
Photograph: Mark R Cristino/EPA
Martin Farrer, Vincent Ni and agencies
Fri 15 Jul 2022 22.34 AEST
[...]
Protest in China over frozen bank accounts ends in violence
Read more > https://www.theguardian.com/world/2022/jul/11/china-violent-clashes-at-protest-over-frozen-rural-bank-accounts
[...]
“We expect the official GDP figures to eke out growth of 3%-4% this year but think the reality on the ground will be closer to zero growth across the year as a whole,” he said.
[...]
“For China, it’s a societal issue,” said Alicia García-Herrero, the Hong Kong-based chief economist for Asia Pacific at Natixis bank. “A lot of people will ask now: where is my future? It kind of breaks their ‘China dream’. This is a key problem now.”
Serena, a 26-year-old English teacher in the southern city of Zhuhai, has finally found a job this month after two years of searching. “For the last two years, I have been struggling. It was highly competitive and extremely difficult if you want to teach in public schools,” she told the Guardian. “And the pay turned out not to be as it was promised.”
Given China’s insistence on zero Covid and the recent discovery of the highly transmissible Omicron subvariant BA.5, many analysts do not expect a rapid economic recovery. In addition, the country’s property market is in a deep slump, and the global outlook is darkening .. https://www.theguardian.com/business/2022/jul/14/global-recession-risk-rising-as-economic-outlook-darkens-significantly-imf-says .
https://www.theguardian.com/business/2022/jul/15/chinas-quarterly-economic-growth-slumps-sharply-after-covid-lockdowns
BLAME BIDEN!
BLAME BIDEN!
BLAME BIDEN! .. or really maybe congratulate him? Or, actually neither.
Analysts do not expect a rapid economic recovery in China.
Photograph: Mark R Cristino/EPA
Martin Farrer, Vincent Ni and agencies
Fri 15 Jul 2022 22.34 AEST
[...]
Protest in China over frozen bank accounts ends in violence
Read more > https://www.theguardian.com/world/2022/jul/11/china-violent-clashes-at-protest-over-frozen-rural-bank-accounts
[...]
“We expect the official GDP figures to eke out growth of 3%-4% this year but think the reality on the ground will be closer to zero growth across the year as a whole,” he said.
[...]
“For China, it’s a societal issue,” said Alicia García-Herrero, the Hong Kong-based chief economist for Asia Pacific at Natixis bank. “A lot of people will ask now: where is my future? It kind of breaks their ‘China dream’. This is a key problem now.”
Serena, a 26-year-old English teacher in the southern city of Zhuhai, has finally found a job this month after two years of searching. “For the last two years, I have been struggling. It was highly competitive and extremely difficult if you want to teach in public schools,” she told the Guardian. “And the pay turned out not to be as it was promised.”
Given China’s insistence on zero Covid and the recent discovery of the highly transmissible Omicron subvariant BA.5, many analysts do not expect a rapid economic recovery. In addition, the country’s property market is in a deep slump, and the global outlook is darkening .. https://www.theguardian.com/business/2022/jul/14/global-recession-risk-rising-as-economic-outlook-darkens-significantly-imf-says .
https://www.theguardian.com/business/2022/jul/15/chinas-quarterly-economic-growth-slumps-sharply-after-covid-lockdowns
BLAME BIDEN!
It was Plato who said, “He, O men, is the wisest, who like Socrates, knows that his wisdom is in truth worth nothing”
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