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I would call it a Great Depression https://www.forbes.com/sites/miltonezrati/2024/01/22/chinas-economy-has-picked-up-traits-reminiscent-of-the-great-depression/
by berserk1010 3y ago
I would call it a Great Depression https://www.forbes.com/sites/miltonezrati/2024/01/22/chinas-economy-has-picked-up-traits-reminiscent-of-the-great-depression/ https://www.forbes.com/sites/miltonezrati/2024/01/22/chinas-.... And the depression probably started in 2021 or 2022.
- bigbillheck 3y ago> And the depression probably started in 2021 or 2022. GDP is generally a bogus metric but it's an odd kind of depression that has a 5% growth in it.
- onlyrealcuzzo 3y agoYou can easily get 5% growth and worse living standards. Expand your balance sheet to pay everyone to dig a hole. GDP goes up. As long as you ignore debt, GDP doesn't really mean anything. Look at China's debt.
- MrPatan 3y agoIs that 5% growth? Or is that a piece of paper with a number "5" in it? There is a difference.
- deleted 3y ago[deleted]
- ffgjgf1 3y ago> odd kind of depression Not so much if you compare it to the original “Great Depression” https://en.m.wikipedia.org/wiki/Long_Depression https://en.m.wikipedia.org/wiki/Long_Depression Of course assuming that 5% even means anything. Look up the Soviet official growth figures from the late 70s and 80s
- enaaem 3y agoLi Keqiang, China’s former premier, doesn’t even look at gdp. It’s for ‘reference only’. https://www.reuters.com/article/idUSTRE6B527D/ https://www.reuters.com/article/idUSTRE6B527D/