Its quiet interesting how we reject the reality of our situation and expect to be able to observe it, control it and even change it. I used to be financially depressed until I read a book that made me realized that the secret to making a million is making better investments.
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Growth of Chinese economy is “slower” than expected at 5% - China is going to collapse Growth of UK economy “higher” than expected at 0.5% - wow beyond expectations Growth of Germany economy “higher” than expected at 0.4% - fantastic USA with 1.8 trillion printing of money grew 2.4%-wow amazing!
Every "statistic" that comes out of China is at best a rumor, it is THAT untrustworthy. China is not alone in this; this is common to all autocratic regimes. So, if China says 5% growth achieved, the suspicion is that it is closer to zero, because China habitually overstates it by that much. Because of years of such accumulated overstatement, there is suspicion that the real size of China's economy isn't even the $17T that is claimed, but probably no more than 60% of that figure.
The GDP per capita in the US for 2023 is estimated at $80k, whereas China is $12k. So, China needs robust growth to increase the standard of living for its population.
China's GDP growth in 2nd Q is 6.3%, how did bad become bad? China economy gas has generated almost 1 trillion $ annually for the last decade, this year gonna be the same...
Yeh, it's probably not 6.3% . It's hard to gather real data points when dealing with an insecure, opaque dictatorship. A more reasonable estimate can be based on the fundamentals seen on the ground: unfavorable demographics, defaults in key sectors, years of bloated spending, etc.
China’s pre-Covid GDP growth was at least 6-8%. 6.3% is not enough to make up for the slow 3% growth in 2022. Coupled with high youth unemployment, real estate constituting 70% of household’s wealth, declining consumer confidence, deflation etc ….. perfect storm brewing
@@darthvader4209 what about the West then? Are economies are stagnating much worse than China's and are likely to fall into recession rather soon due to high interest rates. Maybe we should be worrying about ourselves more than China.
Why Western MSM keep lying that Sri Lanka went bankrupt due to "Chinese debt trap" ? The total international and national public debt of Sri Lanka is about $83 billion, of which only $7.5 billion is owed to China. The US is now trying to " help" Sri Lanka to build a second Port ! Please provide Interest-free loan only . Should Sri Lanka try to make good use of the Chinese Debt Trap port first before building a new US Debt Trap port ?
GDP growth in Q2 China: 6.3% USA: 2.7% Singapore: 0.7% Japan: 1.9% South Korea: 0.9% Germany: -0.6% France: 0.9% If China's economy stumbles, what do we call the rest of the world?
China's economy stumbles ? ha....ha....ha.... China's economy has been stumbling since 30 years ago and India's has been booming since 30 years ago....... But today, China's GDP is more than 5 times larger than India's......
In the 1990s, continued "most favored nation" status for the People's Republic of China by the United States has created this situation. They enjoyed it so much that China practically built it's human, financial and industrial, infra capital using US's help. Now it has become sore in the eyes of its own benefactors. On the other hand countries like India, Indonesia, UAE did what they had to do based on their own policies and strengths without much help from the west. Maybe countries should become superpowers based on their own credibility rather than exclusive help from one partner for decades.
China holds less than 1 trillion dollars in US bonds. That's less than the evaluation of Tesla a few months ago. That 10X less than the value of the assets managed by BlackRock. That's 2.5X less than the evaluation of Microsoft alone....
i can feel the air pollution gone, the public park getting more, the ev car is getting more, our industries is getting stronger, our technologies is getting more independent. of course, we think we are slowing, maybe facing big problem
Some of this is a little odd. The majority of Chinas GDP is from manufacturing (exports) and from real-estate (building, investments and growth). These are _local_ China problems, since many countries are moving the manufacturing back to their own countries. China cant create more local consumption if the people that worked in the industries that have shut down, dont have jobs? With 20% unemployment in under 25's there is a clear problem of China being able to support their people with work and employment to even have work to be able to buy anything. The housing sector is the same for this, since they employ a vast un-educated pool of people, which are now also out of work. Many people have flocked to change their work to become online sellers or similar. China is also now suffering a massive outflow of investment, since it is clear their growth targets are just not attainable, additionally they are still cutting interest rates, and whereas the rest of the world is increasing interest rates, meaning many countries now are literally far better places for investors to move their money to. China is _desperately_ trying to stop the outflow of money with many restrictions on its citizens in money transfer... it is a situation that is deteriorating rapidly.
20% of youth unemployment was due to the number of college graduate increased 40% in a few years. those kids simply won't take factory jobs. There are lots of jobs in the manufacture sector, nobody takes them.
While we in the free world should be _CELEBRATING_ the downfall of the engine that powers the gang of thugs, aka the CCP. Sympathies for the people who will suffer, but all in all, good for world peace.
@@jameskillu9171 - Funny. Said nothing about US. Europe, Asia, and Americas are all doing this. And, US.. is making quite alot and helping Mexico raise their manufacturing too. Things are changing, and China's only real source of income is about to stop. With their vast import issues. They are in a very very precarious position economically.
Chinese economy is very sick. There's no cure. - Only regime change to something like Taiwan 🇹🇼 can help. It's a win-win solution for both China and the world.
This is what people refer to as the "Indian Economic Miracle": In 1980, India's per person GDP was 138% of China's. In 1990, India's per person GDP was 116% of China's. By 2000, India's per person GDP had dropped to just 46% of China's. In 2010, India's per person GDP was only 29% of China's. And by 2022, India's per person GDP had fallen to just 18% of China's.
Yes. China’s economic hyper-growth era is over. Everything that had caused it has changed. These economic contagions always spill over even if China is more insulated from the world economy.
come on.there's more than 200 countries in the world. how many of them would follow American blindly. even Germany say something different from American
People need to pay much more attention to what is going on in the Ukraine. The “Ukraine contact group” has over 50 nations. That is nearly twice the size of the EU and includes countries as divers as Japan and Morocco. This will become your top global supply chain mechanism. They need to be able to move large amounts of equipment quickly and efficiently and are modifying infrastructure to do so. Once you can easily move tanks and missiles across borders it will be easier to move gas and beans. New hubs in the global logistics chain are forming. India, ASEAN, Latin America, Africa and so on will have to interface with these new emergent hubs.
It's inevitable, China is hitting the ceiling. It'll still grow but at a much lower pace. It's not worrying for the world or china but rather worrying for the ruling political party.
Decades of moving our factories and jobs to China and sending them trillions of dollars has been a disaster for the working class in the West. Decades of massive tech transfers and training millions of Chinese engineers and scientists at our universities and looking the other way while Chinese spies visit our tech sectors was geopolitical idiocy of world changing proportion. We're tired of helping, paying, and giving special treatment to a country that still just sees us as the enemy. Who cares if they pop their real estate bubble and crash their economy? Decoupling is long overdue!
Pain is something that must be experienced. If industrial upgrading does not take place, then it will fall into a middle-income trap like Latin American countries. The real estate bubble must also be pricked, or else it will be hit by the United States like Japan and be destroyed. So even though China's economy has been bad for the past few years, I still support the Chinese government's decisions.
No, China is doomed. Not only has their birth rate dropped 70% in the past 5 years, they also no longer have enough people under 40 to avoid population collapse even if you give them all Viagra. Meanwhile there are no jobs for the young, so the government has stopped even reporting the youth unemployment rate. Goodbye China, you had your chance, now disappear!!
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its not only china, all major countries trade are down 10-30%. so as a world factory it is just obvious that they are also down. the key is getting these companies back to china not vietnam mexico etc.
Yea good luck with that western companies don’t trust China moving forward especially since the draconian Covid 19 lockdowns. Mexico and other countries will pick up the slack.
Nope, they want to be cut off from the world and do everything the ‘chinese way’, let them suffer. The world Wouldn’t have these economic scares if investors and corporations quit pimping poorer countries for their own benefits
The USA's economic blockades have played a significant role in China's economic growth. China is the world's leading manufacturer, and the USA is its largest importer.
I don't think so. Without economic blocade china would surpass US economy before 2030. That seems unlikely now. And manufacturing is actually decreasing in china
China is the largest importer. BTW, China has no big problem. your now are still hearing western propaganda. i guess it is your country's economy is in crisis. and so your media broadcast China's crisis instead yourself. China is still in fast changing.
We are already in Recession unofficially and every country is facing hyper inflation.Ordinary people are suffering every where due to price hike in basic commodities.
Wherever you live, "We" doesn't include the US. Inflation is the exact opposite of the deflation you'd normally experience in a Recession. The US has very low unemployment which is also normally a sign of a Recession, in fact today it's a curiosity that the unemployment rate is lower than annual GDP. That almost never happens.
I love how the title tries to spin the cause and effect, as if China's economy slow down is the cause and the world suffers from it. In fact, it's the other way around.
The Chinese govt initiate a real estate bubble deflation in 2017 by restricting credit to over leveraged developpers in order to kill property speculation and to make housing affordable for the next generation. This is 5 years later. Yes a couple of developper has gone bust, just as expected, a Trust co has gone too, but none of these are systemically important. Western Media just looooves crisis hyperventilating, looves the hype and the hyperboloid. Like any deflation, some will be hurt. But is a controlled process, no Lehman here. Move on.
Agree But the components of GDP = government spending + (exports over imports) + investment + consumption are all poor and on the decline because of local government debts, poor policies over the years, NPL, investors pulling their money out, less new long-term investments, etc. Whatever little remains and still keeping China afloat are those shrinking exports and daily consumption...of course it will show an uptick - for now
Every cloud has a silver lining. Better for India and Indonesia if it does they will get industry. And Turkey is getting the new Traditional Silk Route Marketplace! That is far more exciting news. They will build a new traditional market outside of Istanbul where there will be dancing and incense and silk and fantastic cultural foods and all the things the people on the Silk Route wanted. A new tourist attraction for the Silk Route and one that people can afford and enjoy.
China’s industrialised boom may slowed but then they should switched back to agriculture industry for a start self suffice and exports of surplus. The world have never enough of food based products and this will help to keep the food prices down. US may boycott all they wants but others willing to trade with China will benefit.
I don't believe China will be able to be self-sufficient in food until their population drops to about 300 million, which is coming due to their abysmal birthrate. Their topography and climate won't sustain it. To much desert, not enough water in the right places, and so much of their soil is poisoned with pollution, 80% of their underground water is undrinkable...and on and on and on.
Hello. If the world consumes less then offcourse you dont produce and export that much. How difficult is this? Thats because the world is in a recession
What I understand about the reason of economy crisis in China is attributable to global economy downturn, especially in Europe. Added to it is the U.S. pressure on curtailing Chinese influence. The so called BRI is a failure. I once watched Xi Jinping saying cheerfully to a group of youths in a congregation that a strong country is the one which has strong military. He never thought that the main strength of a country derives from its economy. This is Satindra Chakrabarti from Canada.
In fact, Xi Jinping has emphasized the importance of the economy countless times domestically, far more than the importance of the military. And the Canadian media will definitely not report these words, because no one is interested. People in Canada are willing to believe that he is the new Hitler, so the media leads hints in this direction.
China has not forgotten that it was the world's largest economy prior to First Opium War but lost to UK and started a century of humiliation. The current G7 members were also part of the 8 countries alliance that took and loot Beijing at the end of 19 century. Hence China understand the need of strong military to prevent USA lead invasion. USA will find whatever reason to invade/attack if USA lead alliance think their military can win with little cost in blood (Iraq/Syria/Libya).
exactly...over the years the world has become aware that the west/US will say anything in an attempt to soil & turnish the reputation of their so called 'enemies'...what is being said here is nothing new or unique to china... 1). In the same way they are having real estate challenges the 'mighty' US is similarly having challenges with its real estate where house prices are sharp on the rise & thus unaffordable... "prices in July 2023 were up 1.9 percent year-0ver-year to reach $406,700 - the highest July median ever recorded" 2). On unemployment china has a rate of 5.3% with 1.4billion people to carter for while the US has 3.5% with merely 330million people to worry about so even from face value china is doing a better job at dealing with thw problem than the US... Recent data shows that the unemployment rate in china has only increased to 5.3% up from 5.2% a mere 0.1%...so is 0.1% what is causing all these noise and nonsense from the west?🚮
How bad could it actually get though, what's the worst that could happen. What's more likely, the Chinese GDP surpasses the US in a few decades or it drops to number 3 which is a very long way to fall. Everything ranging from the future rustbelts to the youth unemployment, to the housing and demographic issues are problems that need to be addressed and the suffering of many Chinese people is real, but I think it's still more likely China surpasses the US rather than fall to third place. We already see with Hawaii if the globalists want something done it'll be done, the great reset was always meant to pivot more towards Asia and China eventually, how it'll be done is yet to be seen.
furthermore china's socialist model is unique that its meant to shrink when there's austerity. they run it like a big han family and that's something you see when there was crackdown after crackdown. they used it to contract the economy function in a more direct way than other countries where the nature of the shutdown caused many functions to detract anyway. their design we will see though its more direct and authoritarian is like running a contained internal ship while road and belt is like dad's gone away on the road to bring business home. believe me, i see that it is Maoist but only in his dreams would he have seen the advancements of his child race after so much tech development.
China GDP grwoth is 4 % while the West is less than 2%. Each country should woories their own. Just leave China out of your mind is good for your sanity. Insanity of this news is odd.
Why is China's economy slowing down? Because the EU and US allies are in recession? There are less demand from these countries for goods in general. Soaring food and energy prices in EU, people struggling with rent, food and utilities as result of the war in Ukraine... The cause is not China, but recession else where.
There’s a reason why the peoples of the world yearn to live like we do in the West, and that’s because here we value every person, every human life matters. Do you think any of those BRICS countries can measure up? Don’t reply to me, because you know the answer even if you may not admit it.
Too bad, this is one of the worst Al Jazeera productions I've viewed regarding the expert expertise... IMO the Chinese economy analysis is very bad although the final analysis and future expectations are more or less consistent with most international analysis, and the BRICS analysis is very, very spotty not once touching on specific reasons why each of the 6 countries were extended invitations and why each might or might not accept. Some of the data is questionable too, like saying that the G7 comprises about 10% of the world's population and BRICS is 5x that. Considering India and China each are approx 1/4 of all humanity and how populous Brazil is, I'd say thone 3 countries alone greatly exceed 50% of the global population. The economic numbers particularly anytime GDP is mentioned thrown around by these guest experts are hardly supportable. I'd say that this Al Jazeera production was only interested in saying something that might inform the uninformed but the carelessness in the details is very disappointing to me.
Common vision = reducing USA and western power, especially dedollarization. Even if it's not done through a new brics currency, it will be done through bi lateral agreements and currency swaps and other stuff. There's no rush, as long as usa has less power and can't sanction or destroy their economies at will, that is already a win.. Also gives all countries in BRICS more leverage and less for USA and west. Even if India is against brics currency and against China, they are 100% down to reduce USAs power and increase their own relative power and influence. As for "self interest", everything is about self interest. Tell me any country in any international grouping that doesn't join or make decisions based on their own self interests? There is no such thing. The main strength of BRICS+ is specifically that countries arent pressured and free to do whatever they want. There's no interference from China or Russia etc like how USA dinianfes all irs allies and can force Japan, SK, Taiwan, Netherlands etc to cripple their biggest and most important companies and thus cripple their economy and country itself just because USA forced them to in order to delay Chinas rise for 3 years, since Huawei has already overcome the chip ban and released a 5g flagship phone just few days ago when they should not have had that capability. I assumed at least 5-15 years but it took only 3 years, and that's even with usa banning software, kidnapping their CFO and holding her ransom with fake chargers, etc etc. Huawei and China have come out stronger than ever, while TSMC, Samsung, Japanese companies have all lost like 50-100% in profits and lost hundreds of billions in profits EVERY YEAR. Before that China spent more to import chips from those "hostile" sellers than they spent importing even OIL itself. That should tell you just how much China was spending on chips and how important that revenue was for Taiwan, South Korea, Japan, etc. USA made that disappear overnight, and for what? To delay China's mobile phone sales for 3 years and in the meantime they forced China to develop 100% domestic industry and now those companies have a Chinese competitor for chips which will hurt them even more? This isn't even counting usa pressure to UK and others to ban Huawei and delay their 5g rollout for 5-10 years and make them spend billions more for no reason in order to rip out what had been installed already and replace them all. USA made uk cancel nuclear power plant agreement with China also halfway through it. China had new nuclear plant design and also the infrastructure tech and experience to build it. Again USA forced them to cancel and delay the project and make it cost billions more for zero reason(for UK). USA is forcing all their closest "allies" to basically destroy their own economies and most important companies, and they get zero benefit from it, even USA has no real gain and only losses in the long run. They stopped Huawei from selling flagship phones for like 3 years, so what? They really wanted to cripple and destroy Huawei completely, and to cripple and destroy Chinas high tech sector also. Instead they just made China self sufficient and stronger than ever. China's rise in tech and economy cannot be stopped. Just see with space station. Bans never work, they only make China self sufficient and stronger in the long run. I guess delay of 3 years is enough for USA since US presidents only have 4 year term and everything else can be blamed on the next president with zero consequence or accountability if anything goes wrong. Lastly, China grew by 1.5 trillion or more last year, was responsible for like 30%+ of total global growth. 5-6% of 20 trillion is still way better than say indias growth of 8-10% of 3 trillion. That works out to be like 300 billion. So India grew by 300 billion vs Chinas 1.5 trillion last year. Who grew more? Is India catching up to China or is China just running away even further? Anyone who understands basic math will know the answer. This isn't even counting China's tech breakthroughs and domestic self sufficiency in everything. Also, is India a better destination for foreign investment or is China? Are companies all fighting to invest in India or are they fighting to invest in China? Do they dare about Indian market or Chinese? The answer is clear. This is all western fear mongering about China. China ticking time bomb, says USA. Lol. USA can say whatever it wants, China has 7-8 trillion at least in foreign reserves and can bailout any company if it wanted. It also is centralized and can make many moves that usa or west cannot. USA also owes China like 800 billion(uses to be trillion+ but China sold some off since USA can't be trusted). USA and west have been saying China will collapse anytime now for the last 7 decades or more ever since modern China founded. They thought Chip ban will destroy China, same as trade war wages by trump now continued by biden. Nothing worked, China won trade war, beat chip ban, now all US top leaders keep visiting China to beg for money and cooperation while China just snubs them politely even if they do meet them to give them minimum level of face since the Chinese are a cultured, civilized people even to those trying to harm them. China will be just fine. 4% growth for the next decade or two? That's more than fine. Even 2% is fine. It will still be more than everyone else's, including USA. If China is 4%, USA will probably be 1-2% if they are lucky. If China is 2%, they will probably be 0% or negative, just like during pandemic in 2020. China was the only major economy to grow at like 2%+ while everyone else had like -5% to -10% or even more. China is the biggest driver of global growth, it is 30%+ by itself and all the fast growing economies are all reliant or growing in major part due to trade with China and because of Chinese size and growth. It's not west thats making Asia, Africa, or global south grow and develop. It's China. This is why global South has rallies behind China and BRICS. There are like 40 countries who applied and are on the waiting list, but even without BRICS it is clear that they all want Chinese investment and technology etc. It's not India who they are really interested in, since India doesn't offer them anything. Nothing to sell or buy. Even to get investment or borrow money, nk one wants Rupee since they can't buy anything with it like Russia stated recently. Also India can't even feed its own people or develop its own infrastructure like toilets and sewage system so how much can India even invest or lend to others? If they do lend those African countries will develop even better infrastructure then India, and many already have with China's help. India is really falling behind due to it's ego and conflicts with China. China doesn't allow border dispute to derail their foreign policy and relations, but India apparently cares more about its ego than to lift 1 billion Indians from poverty and end poverty, doesn't care to develop irs infrastructure or domestic tech in an actual successful way, doesn't care to grow it's economy like China did for the last 30-40 years. It's not just about China but India. India is too protectionist against all foreign investments and companies, not just Chinese ones. Most foreign countries and companies do not trust Indian law, gov, or companies. Too much corruption and red tape, the society is also not trustworthy or hard working or educated like china.
Good examples. It's nice when folks take the time to put out a long comment like yours. It's not the whole picture but an able presentation of an important part of the picture. I worry for China's present contraction and do not see it as a positive development, either for the US or for China. They've overcome incredible hurdles in the past so I think they will get out of the current slump eventually as well. To sum up the problems: Xi acted too fast and too hard in certain internal about face moves but I think he has realized his mistakes with Zero covid, overly broad commercial crackdowns, and a few other fronts as well. The wave of decoupling sprung by Zero covid and some of the more haphazard and egregious corporate takedowns will be very hard to reverse. He acted too soon but I think he's aware of this. I only hope that, for all our sakes, he's able to reverse the trend and restore China to high employment and continued value chain ascent. If the US leadership represented the US population's interests, it would realize that a strong PRC SHARES many of the same commodity interests, stability and ecological concerns as does the US and that the PRC could be footing 1/2 the bill to accomplish positive "global governance" aims that the US occasionally has attempted but largely sabotaged with its coups, wars, and endless debt diplomacy via the IMF, etc.--but which aims are nonetheless fundamental to its prosperity: clean water and green electrification for the entire world, the eradication of illiteracy and curable comminicable disease, the transition towards sustainable agriculture, soil and water management; the cleaning of the world's oceans. These aims could be realized if the two great powers united in sustained critical initiaves, particularly in materials science, zero-debt development aid, affordable medicine, etc. The lost potential the conflict and containment approach is yielding is gargantuan and tragic.
"countries arent pressured and free to do whatever they want. There's no interference from China or Russia etc". And just how long do you think that will last? Where, anywhere in the world, does China not try to take over and bully everyone? If BRICS members want to see their future they can look at the South China Sea and see how China treats the Philippines, Taiwan, VietNam, etc.
As China's economy stumbles Aljazeera studio's floor is in ruin, look at how terrible the finishing are.
🍅
😂😂😂 it's true
China's economy is not in any tumble, the west is trying to get investors out of China and it won't work coz we all use Chinese goods.
How refreshing more CCP whataboutisms 😂
Hahaha. I noticed that, too.
Its quiet interesting how we reject the reality of our situation and expect to be able to observe it, control it and even change it. I used to be financially depressed until I read a book that made me realized that the secret to making a million is making better investments.
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The US president should focus on the US economy and not the Chinese economy
I mean who funded china's economy? Hmmm
How can the US maintain its supremacy WITHOUT suppressing China, especially its tech and economy?
US is very focus in wars. It had spent more than 7 trillions USD in Iraq, Afghanistan and Syria in the past 30 years.
@@oceanwave4502it opposes it on its own created platform, US made china that great, the west as a whole did. Truth be said
President has to be aware yknow
Growth of Chinese economy is “slower” than expected at 5% - China is going to collapse
Growth of UK economy “higher” than expected at 0.5% - wow beyond expectations
Growth of Germany economy “higher” than expected at 0.4% - fantastic
USA with 1.8 trillion printing of money grew 2.4%-wow amazing!
Every "statistic" that comes out of China is at best a rumor, it is THAT untrustworthy. China is not alone in this; this is common to all autocratic regimes.
So, if China says 5% growth achieved, the suspicion is that it is closer to zero, because China habitually overstates it by that much.
Because of years of such accumulated overstatement, there is suspicion that the real size of China's economy isn't even the $17T that is claimed, but probably no more than 60% of that figure.
the western lies, and propaganda,
The GDP per capita in the US for 2023 is estimated at $80k, whereas China is $12k. So, China needs robust growth to increase the standard of living for its population.
in india , its 2k🤣,@@Van_TT
@@Van_TTGDP doesn't say anything about the quality of life. PPP does
I don't think 5.4% of GDP is stumble for the 19 trillion economy
YEP-- IT IS ALL RELATIVE. THIS SHOW SOUNDS LIKE ANTI-CHINESE PROPAGANDA
Western media is being used to deter investors from investing in china. It is all a scheme
Who said it's a 19 trillion dollars economy?
Yes it is, because it's 5.4% of "19 trillion" dollars and is more than 5.4% of 1 or 2 trillion. What's your logic?
@@UnstableEvilthat's not how it works
China's GDP growth in 2nd Q is 6.3%, how did bad become bad? China economy gas has generated almost 1 trillion $ annually for the last decade, this year gonna be the same...
That's because those numbers are cooked by CCP while the country is reeling under a massive recession!
Yeh, it's probably not 6.3% . It's hard to gather real data points when dealing with an insecure, opaque dictatorship. A more reasonable estimate can be based on the fundamentals seen on the ground: unfavorable demographics, defaults in key sectors, years of bloated spending, etc.
😂Deflation & 6.3%
China’s pre-Covid GDP growth was at least 6-8%. 6.3% is not enough to make up for the slow 3% growth in 2022. Coupled with high youth unemployment, real estate constituting 70% of household’s wealth, declining consumer confidence, deflation etc ….. perfect storm brewing
@@darthvader4209 what about the West then? Are economies are stagnating much worse than China's and are likely to fall into recession rather soon due to high interest rates. Maybe we should be worrying about ourselves more than China.
Why Western MSM keep lying that Sri Lanka went bankrupt due to "Chinese debt trap" ? The total international and
national public debt of Sri Lanka is about $83 billion, of which only $7.5 billion is owed to China.
The US is now trying to " help" Sri Lanka to build a second Port ! Please provide Interest-free loan only .
Should Sri Lanka try to make good use of the Chinese Debt Trap port first before building a new US Debt Trap port ?
GDP growth in Q2
China: 6.3%
USA: 2.7%
Singapore: 0.7%
Japan: 1.9%
South Korea: 0.9%
Germany: -0.6%
France: 0.9%
If China's economy stumbles, what do we call the rest of the world?
Shanghai statistics 😂
well, I live in China. I can feel the economy is defintely not as bad as they say with my own experiance@@akalrove4834
@@akalrove4834 No, CCP wishful stats...
by the way, the World Bank estimated 5.6% growth for China's economy in 2023. This is the not Shanghai statistics, right?@@akalrove4834
China's economy stumbles ? ha....ha....ha....
China's economy has been stumbling since 30 years ago and India's has been booming since 30 years ago.......
But today, China's GDP is more than 5 times larger than India's......
The commentator has been polite and cordial towards the true underlying issues plaguing china 😌
Yes. Not quite sugar coating, but kind indeed.
Lies and more lies. I own a retail business in China. The first half of 2023 has been our best ever.
You must work in a morgue
Covid hit hard
@@andymcrae4661 Is that all you got? Then keep jackin' off on MSM garbage.
@@andymcrae4661 💀💀
In the 1990s, continued "most favored nation" status for the People's Republic of China by the United States has created this situation. They enjoyed it so much that China practically built it's human, financial and industrial, infra capital using US's help.
Now it has become sore in the eyes of its own benefactors.
On the other hand countries like India, Indonesia, UAE did what they had to do based on their own policies and strengths without much help from the west.
Maybe countries should become superpowers based on their own credibility rather than exclusive help from one partner for decades.
Giant words from South Africa about restructuring the global economy when they can’t even generate enough electricity.
Stumble or not, China still not buying any US treasury debt.....
China holds less than 1 trillion dollars in US bonds. That's less than the evaluation of Tesla a few months ago. That 10X less than the value of the assets managed by BlackRock. That's 2.5X less than the evaluation of Microsoft alone....
so why Yellen went to China and begging?
@@alanssshh Why did China invite Yellen to beg her and the USA to go ease the sanctions against China?
China can’t afford UST, it’s bankruptcy is being exposed daily.
Great, then other people will buy them.
5:00 This Gary NG guy is not from Singapore, those are HK accent, from his body language he is very tense lol.
China’s GDP growth rate in the first half of the year was almost 6. China is more qualified to worry about the economic growth of other countries
Not even the Chinese believe in their own data. Don't be stupid.
do not tell the truth to the rest of the world.
let others feel good even better
Yeah everything is going great, nothing to see here.
Lol yea ok 6% nobody believes that number.
If you believe "official" CCP numbers about anything I have some nice ocean-front property in Kansas you might be interested in.
i can feel the air pollution gone, the public park getting more, the ev car is getting more, our industries is getting stronger, our technologies is getting more independent. of course, we think we are slowing, maybe facing big problem
Some of this is a little odd. The majority of Chinas GDP is from manufacturing (exports) and from real-estate (building, investments and growth). These are _local_ China problems, since many countries are moving the manufacturing back to their own countries. China cant create more local consumption if the people that worked in the industries that have shut down, dont have jobs? With 20% unemployment in under 25's there is a clear problem of China being able to support their people with work and employment to even have work to be able to buy anything.
The housing sector is the same for this, since they employ a vast un-educated pool of people, which are now also out of work. Many people have flocked to change their work to become online sellers or similar. China is also now suffering a massive outflow of investment, since it is clear their growth targets are just not attainable, additionally they are still cutting interest rates, and whereas the rest of the world is increasing interest rates, meaning many countries now are literally far better places for investors to move their money to.
China is _desperately_ trying to stop the outflow of money with many restrictions on its citizens in money transfer... it is a situation that is deteriorating rapidly.
20% of youth unemployment was due to the number of college graduate increased 40% in a few years. those kids simply won't take factory jobs. There are lots of jobs in the manufacture sector, nobody takes them.
While we in the free world should be _CELEBRATING_ the downfall of the engine that powers the gang of thugs, aka the CCP.
Sympathies for the people who will suffer, but all in all, good for world peace.
is USA manufacturing anything
Lol don't watch too much American news media
@@jameskillu9171 - Funny. Said nothing about US. Europe, Asia, and Americas are all doing this. And, US.. is making quite alot and helping Mexico raise their manufacturing too. Things are changing, and China's only real source of income is about to stop. With their vast import issues. They are in a very very precarious position economically.
That's why BRICS expansion is an *invitation to join a sinking ship.*
- Look at Russia and China! Lol
Hi troll,
You and Last Chang are the same person
hello, lastChang.
Chinese economy is very sick. There's no cure.
- Only regime change to something like Taiwan 🇹🇼 can help.
It's a win-win solution for both China and the world.
Hi troll,
You and Arabic Reja are the same person
You are dreaming at daylight
Daydream
Spoken like Ukrainians to change Russia regime. BRICS expansion is indeed EM Revolutionary. Not like G7 abysmal ESG..
Put down the joint.... China's overall economy is still very healthy.
Have been listening to the same cry of ‘China collapsing’ for decades…..while watching China keeps growing!
Gary is very educated and well spoken. kudos to him
This is what people refer to as the "Indian Economic Miracle":
In 1980, India's per person GDP was 138% of China's.
In 1990, India's per person GDP was 116% of China's.
By 2000, India's per person GDP had dropped to just 46% of China's.
In 2010, India's per person GDP was only 29% of China's.
And by 2022, India's per person GDP had fallen to just 18% of China's.
Yes. China’s economic hyper-growth era is over. Everything that had caused it has changed. These economic contagions always spill over even if China is more insulated from the world economy.
most financial crises are due to Western countries, not China
US and EU are either stagnant or in recession. China 5% is many times better than your country.
Get a 🧠!!!
come on.there's more than 200 countries in the world. how many of them would follow American blindly. even Germany say something different from American
@@alanssshh Sri Lanka, Pakistan, Italy, Montenegro.
The economy producing homeless is USA not china
Chinese economy is growing the fastest among the major economies of the world. So what are you talking about?
People need to pay much more attention to what is going on in the Ukraine. The “Ukraine contact group” has over 50 nations. That is nearly twice the size of the EU and includes countries as divers as Japan and Morocco. This will become your top global supply chain mechanism. They need to be able to move large amounts of equipment quickly and efficiently and are modifying infrastructure to do so. Once you can easily move tanks and missiles across borders it will be easier to move gas and beans. New hubs in the global logistics chain are forming. India, ASEAN, Latin America, Africa and so on will have to interface with these new emergent hubs.
It's inevitable, China is hitting the ceiling. It'll still grow but at a much lower pace. It's not worrying for the world or china but rather worrying for the ruling political party.
No, it's economy is going to collapse, because their demography is collapsing. They've stopped having children!
Decades of moving our factories and jobs to China and sending them trillions of dollars has been a disaster for the working class in the West.
Decades of massive tech transfers and training millions of Chinese engineers and scientists at our universities and looking the other way while Chinese spies visit our tech sectors was geopolitical idiocy of world changing proportion.
We're tired of helping, paying, and giving special treatment to a country that still just sees us as the enemy. Who cares if they pop their real estate bubble and crash their economy? Decoupling is long overdue!
Hi sour 🍇,
Chinese students paid school fees, there's nothing as free lunch.
Btw, China tops the world in patent rights nowadays.
You should worry about your own problems, China can handle very well
@@仗义直言lol ur the economist of china😂
Bla bla bla, keep allowing media to mislead you
Bullshit, China bought $500 billion of US debt in 2008. Helped the US through the economic crisis. Now there are people threatening China.
Pain is something that must be experienced. If industrial upgrading does not take place, then it will fall into a middle-income trap like Latin American countries. The real estate bubble must also be pricked, or else it will be hit by the United States like Japan and be destroyed. So even though China's economy has been bad for the past few years, I still support the Chinese government's decisions.
Sending love and hugs from the USA!! 🇺🇸
No, China is doomed. Not only has their birth rate dropped 70% in the past 5 years, they also no longer have enough people under 40 to avoid population collapse even if you give them all Viagra. Meanwhile there are no jobs for the young, so the government has stopped even reporting the youth unemployment rate. Goodbye China, you had your chance, now disappear!!
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Can't you invite a real person instead of an AI bot
😂😂
😂😂😂
lol.... probably autistic or something.
As soon as I see Gary Ng, I can tell Beijing is speaking.
its not only china, all major countries trade are down 10-30%. so as a world factory it is just obvious that they are also down. the key is getting these companies back to china not vietnam mexico etc.
Yea good luck with that western companies don’t trust China moving forward especially since the draconian Covid 19 lockdowns. Mexico and other countries will pick up the slack.
Nope, they want to be cut off from the world and do everything the ‘chinese way’, let them suffer. The world
Wouldn’t have these economic scares if investors and corporations quit pimping poorer countries for their own benefits
yeah, SG should, it's its no. 1 fan. They are all for exposure I just wonder why are they not worried until now.
No need to worry there are other countries to trade with than China, that do not support the ongoing war in Europe or want to start a big war in Asia.
The USA's economic blockades have played a significant role in China's economic growth. China is the world's leading manufacturer, and the USA is its largest importer.
I don't think so. Without economic blocade china would surpass US economy before 2030. That seems unlikely now. And manufacturing is actually decreasing in china
China is the largest importer.
BTW, China has no big problem. your now are still hearing western propaganda. i guess it is your country's economy is in crisis. and so your media broadcast China's crisis instead yourself. China is still in fast changing.
BS. Look at our new Huawei . Beat your country phone by a mile.
@@ronald007codgod yea sure lmao
We are already in Recession unofficially and every country is facing hyper inflation.Ordinary people are suffering every where due to price hike in basic commodities.
Wherever you live, "We" doesn't include the US. Inflation is the exact opposite of the deflation you'd normally experience in a Recession. The US has very low unemployment which is also normally a sign of a Recession, in fact today it's a curiosity that the unemployment rate is lower than annual GDP. That almost never happens.
And this was going to be new superpower? 😂 looks like ray dahlio's predictions are wrong
Thank god usa saw this coming 😂
Free Hawaii. Free Texas. Free California
The same situation is happening in India too..
What “same situation”?
I love how the title tries to spin the cause and effect, as if China's economy slow down is the cause and the world suffers from it. In fact, it's the other way around.
If chiba economy is bad then how bad the rest of the world economy is?China still have 4.8% gdp growth how the other country gdp?
Yah that number xhitler pulled out of his🍑
The Chinese govt initiate a real estate bubble deflation in 2017 by restricting credit to over leveraged developpers in order to kill property speculation and to make housing affordable for the next generation. This is 5 years later. Yes a couple of developper has gone bust, just as expected, a Trust co has gone too, but none of these are systemically important. Western Media just looooves crisis hyperventilating, looves the hype and the hyperboloid. Like any deflation, some will be hurt. But is a controlled process, no Lehman here. Move on.
As China's economy stumbles, the rest of the world should laugh.
Gary is not human. It is AI. He is not blinking eyes
Like you said some economists that who knows who they are. The US is not Europe.
We all should be worried. Australia exports iron ore in great quanties their. The demand for Nz timber has dropped to an all-time low..
And a month ago the Chinese announced their claim to world domination in the BRICS Cafe!
im tired of hearing the word China to be honest
When one of locomotive engines decrease its speed,all cars going slower and slower.
funny though why aj keeps reporting how down China is
They delivering what they are told by their masters the West
it's CIA sponsored media
The rest of the world should always worry
China's growth is slower than expected, but things are not nearly as bad as you described.
Agree
But the components of GDP = government spending + (exports over imports) + investment + consumption are all poor and on the decline because of local government debts, poor policies over the years, NPL, investors pulling their money out, less new long-term investments, etc.
Whatever little remains and still keeping China afloat are those shrinking exports and daily consumption...of course it will show an uptick - for now
Karma
Wall Street investors, HSBC, Fund managers who buy the junk bonds should be the losers.
Every cloud has a silver lining. Better for India and Indonesia if it does they will get industry.
And Turkey is getting the new Traditional Silk Route Marketplace! That is far more exciting news. They will build a new traditional market outside of Istanbul where there will be dancing and incense and silk and fantastic cultural foods and all the things the people on the Silk Route wanted.
A new tourist attraction for the Silk Route and one that people can afford and enjoy.
Why US Commerce Secretary visited China?
to say farewell 😂
Hahaha Al Jazeera has become another gordon chang? 😂😂😂
Why to worry? China should and will stumble farther
😂
Rahulji can only revive their economy with his strategy of global expansion through Yatra instead of BRI
When making up lies, make one that can cover your azz
What can I do with this information?
What about USA?
Is it stumbling ??
Let's Make India Great Again!
it has already is, go to bed in dream
What came first, the chicken or the egg? Or is it fair to say both?
China’s industrialised boom may slowed but then they should switched back to agriculture industry for a start self suffice and exports of surplus. The world have never enough of food based products and this will help to keep the food prices down. US may boycott all they wants but others willing to trade with China will benefit.
China and agriculture don’t mix
China hates the environment
Good luck
I don't believe China will be able to be self-sufficient in food until their population drops to about 300 million, which is coming due to their abysmal birthrate. Their topography and climate won't sustain it. To much desert, not enough water in the right places, and so much of their soil is poisoned with pollution, 80% of their underground water is undrinkable...and on and on and on.
Why worry, the yankees and its allies can help you all by messing you up😀
Are those stains on the floor of Al Jazeera studio?
Hello. If the world consumes less then offcourse you dont produce and export that much. How difficult is this? Thats because the world is in a recession
its interesting that chinese govt wants to expand relations with 'non-western' countries, but their people continue to immigrate to western countries
Investors may but ordinary people need not be.
What I understand about the reason of economy crisis in China is attributable to global economy downturn, especially in Europe. Added to it is the U.S. pressure on curtailing Chinese influence. The so called BRI is a failure. I once watched Xi Jinping saying cheerfully to a group of youths in a congregation that a strong country is the one which has strong military. He never thought that the main strength of a country derives from its economy.
This is Satindra Chakrabarti from Canada.
BRIC won't be failure as US gov will continue to increase interest till their fake economy bursts.
In fact, Xi Jinping has emphasized the importance of the economy countless times domestically, far more than the importance of the military.
And the Canadian media will definitely not report these words, because no one is interested.
People in Canada are willing to believe that he is the new Hitler, so the media leads hints in this direction.
China has not forgotten that it was the world's largest economy prior to First Opium War but lost to UK and started a century of humiliation. The current G7 members were also part of the 8 countries alliance that took and loot Beijing at the end of 19 century. Hence China understand the need of strong military to prevent USA lead invasion. USA will find whatever reason to invade/attack if USA lead alliance think their military can win with little cost in blood (Iraq/Syria/Libya).
@@aragon5 US invading Chyna?? lmao what drugs are you on? unless you mean Starbucks Invasion lol
How you wish the BRI is a failure. You are not reading enough to give a fair comment.
Definitely it will not worry world.
exactly...over the years the world has become aware that the west/US will say anything in an attempt to soil & turnish the reputation of their so called 'enemies'...what is being said here is nothing new or unique to china...
1). In the same way they are having real estate challenges the 'mighty' US is similarly having challenges with its real estate where house prices are sharp on the rise & thus unaffordable...
"prices in July 2023 were up 1.9 percent year-0ver-year to reach $406,700 - the highest July median ever recorded"
2). On unemployment china has a rate of 5.3% with 1.4billion people to carter for while the US has 3.5% with merely 330million people to worry about so even from face value china is doing a better job at dealing with thw problem than the US...
Recent data shows that the unemployment rate in china has only increased to 5.3% up from 5.2% a mere 0.1%...so is 0.1% what is causing all these noise and nonsense from the west?🚮
I am not surprised if they are going down.....
The Singaporean guest was out of touch. He was talking like a Chinese puppet.
Al Zazeera brings beautiful hosts. Thank you.
How bad could it actually get though, what's the worst that could happen. What's more likely, the Chinese GDP surpasses the US in a few decades or it drops to number 3 which is a very long way to fall. Everything ranging from the future rustbelts to the youth unemployment, to the housing and demographic issues are problems that need to be addressed and the suffering of many Chinese people is real, but I think it's still more likely China surpasses the US rather than fall to third place. We already see with Hawaii if the globalists want something done it'll be done, the great reset was always meant to pivot more towards Asia and China eventually, how it'll be done is yet to be seen.
If Ur in business then u have to worry ,ordinary person the impact is nothing . Karma
furthermore china's socialist model is unique that its meant to shrink when there's austerity. they run it like a big han family and that's something you see when there was crackdown after crackdown. they used it to contract the economy function in a more direct way than other countries where the nature of the shutdown caused many functions to detract anyway.
their design we will see though its more direct and authoritarian is like running a contained internal ship while road and belt is like dad's gone away on the road to bring business home. believe me, i see that it is Maoist but only in his dreams would he have seen the advancements of his child race after so much tech development.
China GDP grwoth is 4 % while the West is less than 2%. Each country should woories their own. Just leave China out of your mind is good for your sanity. Insanity of this news is odd.
Whatever happen to China, the world should worry more on the US and Europe recession
You sound hurt
Why will anyone care, let them blame Xi,
Unemployment rate reached to 22 % in China
Am never worried with CCP entering our dwelling. It's Biden border illegals that am extremely worried about
Living in china for 9 years, i dont see any crysis infact they are doing much better compare to others
Gradually they will🎉🎉🎉
Stumble means 5% growth? While US is at 1% and EU is seeing 0.1% growth.
The rest of the world should always worry. A wise sone loves discipline,a scoffer listens to no reproof..
Why is China's economy slowing down?
Because the EU and US allies are in recession? There are less demand from these countries for goods in general.
Soaring food and energy prices in EU, people struggling with rent, food and utilities as result of the war in Ukraine...
The cause is not China, but recession else where.
How many years have china been stubbling to y’all? They just seem fine or get better each year 😂
There’s a reason why the peoples of the world yearn to live like we do in the West, and that’s because here we value every person, every human life matters. Do you think any of those BRICS countries can measure up? Don’t reply to me, because you know the answer even if you may not admit it.
Too bad, this is one of the worst Al Jazeera productions I've viewed regarding the expert expertise... IMO the Chinese economy analysis is very bad although the final analysis and future expectations are more or less consistent with most international analysis, and the BRICS analysis is very, very spotty not once touching on specific reasons why each of the 6 countries were extended invitations and why each might or might not accept. Some of the data is questionable too, like saying that the G7 comprises about 10% of the world's population and BRICS is 5x that. Considering India and China each are approx 1/4 of all humanity and how populous Brazil is, I'd say thone 3 countries alone greatly exceed 50% of the global population.
The economic numbers particularly anytime GDP is mentioned thrown around by these guest experts are hardly supportable.
I'd say that this Al Jazeera production was only interested in saying something that might inform the uninformed but the carelessness in the details is very disappointing to me.
Some comments here are from those with no education
Only country that's growing fast, and has zero percent inflation chance is India 🇮🇳
Is Gary Ng a human or Robot? Expressionless, Is it human or not? Please confirm.
China did warn us they'd win the AI race.
Probably Asperger's.
Who else is loving watching china
Implode?
Won't happen but cope more.
Things r just idealing everywhere
Nope. U.S will be fine China would not be
Common vision = reducing USA and western power, especially dedollarization. Even if it's not done through a new brics currency, it will be done through bi lateral agreements and currency swaps and other stuff. There's no rush, as long as usa has less power and can't sanction or destroy their economies at will, that is already a win..
Also gives all countries in BRICS more leverage and less for USA and west. Even if India is against brics currency and against China, they are 100% down to reduce USAs power and increase their own relative power and influence.
As for "self interest", everything is about self interest. Tell me any country in any international grouping that doesn't join or make decisions based on their own self interests? There is no such thing.
The main strength of BRICS+ is specifically that countries arent pressured and free to do whatever they want. There's no interference from China or Russia etc like how USA dinianfes all irs allies and can force Japan, SK, Taiwan, Netherlands etc to cripple their biggest and most important companies and thus cripple their economy and country itself just because USA forced them to in order to delay Chinas rise for 3 years, since Huawei has already overcome the chip ban and released a 5g flagship phone just few days ago when they should not have had that capability.
I assumed at least 5-15 years but it took only 3 years, and that's even with usa banning software, kidnapping their CFO and holding her ransom with fake chargers, etc etc. Huawei and China have come out stronger than ever, while TSMC, Samsung, Japanese companies have all lost like 50-100% in profits and lost hundreds of billions in profits EVERY YEAR. Before that China spent more to import chips from those "hostile" sellers than they spent importing even OIL itself. That should tell you just how much China was spending on chips and how important that revenue was for Taiwan, South Korea, Japan, etc. USA made that disappear overnight, and for what? To delay China's mobile phone sales for 3 years and in the meantime they forced China to develop 100% domestic industry and now those companies have a Chinese competitor for chips which will hurt them even more?
This isn't even counting usa pressure to UK and others to ban Huawei and delay their 5g rollout for 5-10 years and make them spend billions more for no reason in order to rip out what had been installed already and replace them all.
USA made uk cancel nuclear power plant agreement with China also halfway through it. China had new nuclear plant design and also the infrastructure tech and experience to build it. Again USA forced them to cancel and delay the project and make it cost billions more for zero reason(for UK).
USA is forcing all their closest "allies" to basically destroy their own economies and most important companies, and they get zero benefit from it, even USA has no real gain and only losses in the long run. They stopped Huawei from selling flagship phones for like 3 years, so what? They really wanted to cripple and destroy Huawei completely, and to cripple and destroy Chinas high tech sector also. Instead they just made China self sufficient and stronger than ever.
China's rise in tech and economy cannot be stopped. Just see with space station. Bans never work, they only make China self sufficient and stronger in the long run.
I guess delay of 3 years is enough for USA since US presidents only have 4 year term and everything else can be blamed on the next president with zero consequence or accountability if anything goes wrong.
Lastly, China grew by 1.5 trillion or more last year, was responsible for like 30%+ of total global growth. 5-6% of 20 trillion is still way better than say indias growth of 8-10% of 3 trillion. That works out to be like 300 billion. So India grew by 300 billion vs Chinas 1.5 trillion last year. Who grew more? Is India catching up to China or is China just running away even further? Anyone who understands basic math will know the answer. This isn't even counting China's tech breakthroughs and domestic self sufficiency in everything. Also, is India a better destination for foreign investment or is China? Are companies all fighting to invest in India or are they fighting to invest in China? Do they dare about Indian market or Chinese? The answer is clear.
This is all western fear mongering about China. China ticking time bomb, says USA. Lol. USA can say whatever it wants, China has 7-8 trillion at least in foreign reserves and can bailout any company if it wanted. It also is centralized and can make many moves that usa or west cannot. USA also owes China like 800 billion(uses to be trillion+ but China sold some off since USA can't be trusted).
USA and west have been saying China will collapse anytime now for the last 7 decades or more ever since modern China founded. They thought Chip ban will destroy China, same as trade war wages by trump now continued by biden. Nothing worked, China won trade war, beat chip ban, now all US top leaders keep visiting China to beg for money and cooperation while China just snubs them politely even if they do meet them to give them minimum level of face since the Chinese are a cultured, civilized people even to those trying to harm them.
China will be just fine. 4% growth for the next decade or two? That's more than fine. Even 2% is fine. It will still be more than everyone else's, including USA. If China is 4%, USA will probably be 1-2% if they are lucky. If China is 2%, they will probably be 0% or negative, just like during pandemic in 2020. China was the only major economy to grow at like 2%+ while everyone else had like -5% to -10% or even more. China is the biggest driver of global growth, it is 30%+ by itself and all the fast growing economies are all reliant or growing in major part due to trade with China and because of Chinese size and growth. It's not west thats making Asia, Africa, or global south grow and develop. It's China. This is why global South has rallies behind China and BRICS. There are like 40 countries who applied and are on the waiting list, but even without BRICS it is clear that they all want Chinese investment and technology etc. It's not India who they are really interested in, since India doesn't offer them anything. Nothing to sell or buy. Even to get investment or borrow money, nk one wants Rupee since they can't buy anything with it like Russia stated recently. Also India can't even feed its own people or develop its own infrastructure like toilets and sewage system so how much can India even invest or lend to others? If they do lend those African countries will develop even better infrastructure then India, and many already have with China's help. India is really falling behind due to it's ego and conflicts with China. China doesn't allow border dispute to derail their foreign policy and relations, but India apparently cares more about its ego than to lift 1 billion Indians from poverty and end poverty, doesn't care to develop irs infrastructure or domestic tech in an actual successful way, doesn't care to grow it's economy like China did for the last 30-40 years. It's not just about China but India. India is too protectionist against all foreign investments and companies, not just Chinese ones. Most foreign countries and companies do not trust Indian law, gov, or companies. Too much corruption and red tape, the society is also not trustworthy or hard working or educated like china.
China is done
Deal with it
Good examples. It's nice when folks take the time to put out a long comment like yours. It's not the whole picture but an able presentation of an important part of the picture. I worry for China's present contraction and do not see it as a positive development, either for the US or for China. They've overcome incredible hurdles in the past so I think they will get out of the current slump eventually as well. To sum up the problems: Xi acted too fast and too hard in certain internal about face moves but I think he has realized his mistakes with Zero covid, overly broad commercial crackdowns, and a few other fronts as well. The wave of decoupling sprung by Zero covid and some of the more haphazard and egregious corporate takedowns will be very hard to reverse. He acted too soon but I think he's aware of this. I only hope that, for all our sakes, he's able to reverse the trend and restore China to high employment and continued value chain ascent. If the US leadership represented the US population's interests, it would realize that a strong PRC SHARES many of the same commodity interests, stability and ecological concerns as does the US and that the PRC could be footing 1/2 the bill to accomplish positive "global governance" aims that the US occasionally has attempted but largely sabotaged with its coups, wars, and endless debt diplomacy via the IMF, etc.--but which aims are nonetheless fundamental to its prosperity: clean water and green electrification for the entire world, the eradication of illiteracy and curable comminicable disease, the transition towards sustainable agriculture, soil and water management; the cleaning of the world's oceans. These aims could be realized if the two great powers united in sustained critical initiaves, particularly in materials science, zero-debt development aid, affordable medicine, etc. The lost potential the conflict and containment approach is yielding is gargantuan and tragic.
"countries arent pressured and free to do whatever they want. There's no interference from China or Russia etc". And just how long do you think that will last? Where, anywhere in the world, does China not try to take over and bully everyone? If BRICS members want to see their future they can look at the South China Sea and see how China treats the Philippines, Taiwan, VietNam, etc.
@ex0duzz
Immensely grateful for your insightful + detail post.