Article

2019-09-23 China-Japan-Koreas

China has already lost the trade war. Here's why

h/t Instapundit
China already lost in the trade war with the U.S. Although you will never hear Chinese authorities, especially President Xi Jinping, admit it as such, the evidence is everywhere and only becoming more compelling by the day.

Reuters recently reported that based on the Chinese government's own data, China's economic slowdown has worsened in August, with "growth in industrial production is at its weakest in 17-1/2 years amid spreading pain from a trade war with the United States and softening domestic demand. Retail sales and investment gauges worsened too." Despite such poor readings, Premier Li Keqiang insists that China is still on track to achieve 6 to 6.5 per cent growth rate this year.

Given the Chinese government's tendency to present a rosier economic picture to satisfy political goals, most China watchers believe that Li's statement was an about-face, and that the actual economic situation is much worse.

Posted by g(r)omgoru 2019-09-23 14:54|| || Front Page|| [11130 views ] Top

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