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Sure, just swap the economic indicators people are concerned about. The reporting on the concern of a collapse appear nothing more than “Madlibs” except the wor
by redserk 2y ago
Sure, just swap the economic indicators people are concerned about. The reporting on the concern of a collapse appear nothing more than “Madlibs” except the words you can’t fill the blank in are “and this is why China’s economic model has failed”. These claims only work so often until a pattern resembling “the boy who cried wild” emerges.
In the 2000s, it was speculative banking, effects of currency manipulation, unstable growth
In the early 2010s, it was fear of a slowdown due to trade/stock/commodities
And in this decade so far, it’s property and a throwback to the 2000s.
Searching for “China long term economic problems 20XX” (replace XX with any year) has given me:
2022: COVID-19 restrictions causing impact on the property market (https://www.csis.org/analysis/chinas-slow-motion-financial-crisis-unfolding-expected https://www.csis.org/analysis/chinas-slow-motion-financial-c...)
2019: A quarter of bad investment, weakening car sales, increased tariffs from the US: (https://www.nytimes.com/2019/10/17/business/china-economic-growth.html https://www.nytimes.com/2019/10/17/business/china-economic-g...)
2017: More concern about slowing economic growth (https://www.cnbc.com/2017/08/10/chinas-economic-problems-are-exactly-why-its-global-influence-is-expanding.html https://www.cnbc.com/2017/08/10/chinas-economic-problems-are...)
2015: More slowdown (https://www.wsj.com/articles/china-economic-growth-slows-to-6-9-on-year-in-2015-1453169398 https://www.wsj.com/articles/china-economic-growth-slows-to-...)
2013: https://www.washingtonpost.com/world/chinas-economy-grows-robust-77-percent-in-2013-but-signs-of-slowdown-emerge/2014/01/20/34733800-81a0-11e3-9dd4-e7278db80d86_story.html https://www.washingtonpost.com/world/chinas-economy-grows-ro...
2011: https://www.nytimes.com/2011/09/24/business/global/chinas-economic-engine-shows-signs-of-slowing.html https://www.nytimes.com/2011/09/24/business/global/chinas-ec...
2006: Overproduction, deflation, property value concerns: https://www.cnn.com/2006/BUSINESS/03/12/eyeonchina.economy/index.html https://www.cnn.com/2006/BUSINESS/03/12/eyeonchina.economy/i...
I struggle to see this as anything more than a multi-decades-long attempt to suggest that China couldn’t possibly eventually become the world’s largest economy.
- redserk 2y agoToo late to edit, but: "boy who cried wild" -> "boy who cried wolf"