China’s economy is failing maybe even worse than Biden’s economy.
As we’ve reported for a couple of years now, President Trump destroyed China’s economy. At a time when they could least afford it, President Trump came in and put tariffs on Chinese goods. He then asked US companies to move their plants out of China. The reason was China was not playing fair. They were stealing Western ideas and making profits on them.
The below article was from January 2020 right before the China coronavirus was unleashed on the world. The US economy was on fire while China’s economy was collapsing.
China dropped the COVID bomb on the world economy at this time but it only held off the inevitable. China’s economy is not strong and it is failing now, no matter what Joe Biden does to help the Chinese.
We reported recently on how tanks are guarding banks in China to protect them from their customers.
China’s property market is the key. This is a quarter of China’s GDP and it is failing.
Now the media, which still believes China’s reporting on its economy, says that China will not meet its 5.5.% growth in GDP rate in 2020. It will do the best it can.
China will try hard to achieve the best possible results for the economy this year, state media said on Thursday after a high-level meeting of the ruling Communist Party, dropping previous calls that it will strive to meet its 2022 growth target.
In the second half, China should “stabilise employment and prices, maintain economic operations within a reasonable range, and strive to achieve the best possible results,” Xinhua news agency reported, after the 25-member Politburo chaired by President Xi Jinping met to assess the economy.
The world’s second-largest economy narrowly avoided contracting in the second quarter due to widespread COVID-19 lockdowns. Analysts said Beijing’s full-year growth target of around 5.5% had been looking increasingly unattainable. China last missed its growth target in 2015.
The number one and number two largest economies in the world are collapsing economically due to their own actions. Now what?
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