Stocks may soar for a while, but Communist China’s economy is far sicker than analysts assume.
First, Communist China’s disease statistics are questionable.
Beijing is asking the world to believe that SARS-CoV-2, the pathogen causing this disease, is behaving differently in Communist China than it has in all other parts of the world.
Second, even if Communist China were over Covid as the regime maintains, the economy is still plagued by its over-dependence on property, which accounts for almost 30% of GDP.
“The property sector downturn is hard-wired into the first half of 2023,” reported the Rhodium Group last month, in an analysis on Communist China’s economic prospects.
Fourth, the regime during the pandemic did almost nothing to remedy the principal structural flaw in the Chinese economy: the overreliance on government spending.
Communist China is not going to have a good 2023 or a good 2024. Foreigners are going to lose money in Communist China again.
Communist China’s propagandists tell us the Chinese economy this year will “accelerate to 4.8%.” Foreign analysts are even more bullish. Goldman Sachs estimates growth of gross domestic product of 5.5%.
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Author: Ruth King
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