Here’s some very important information that mainstream, legacy news outfits, who are frequently reporting on the perils of our economic battle with China, don’t seem to be covering.
“China’s economic growth sank to a new multi-decade low in the latest quarter, as a trade war with Washington deepened…”. GDP in the world’s second-largest economy slumped to 6% in the three months ending in September. That number was down from the previous quarter’s 6.2%.
The drop was historic, with China reaching it’s weakest GDP level since they started reporting data by quarters in 1993. The slowdown, along with weakening consumer demand, only make things worse for Chinese leaders, whose 15-month-old tariff war with President Donald Trump has sapped China’s exports.
Here are some other factors highlighting our rival’s growing woes:
- The weak data may mean China will introduce some stimulus to “avert politically dangerous job losses.”
- That stimulus could add to debt, currently so high, agencies have already “cut Beijing’s credit rating.”
- An epidemic of swine flu in China’s vast pig herds is dramatically raising politically sensitive food prices.
- Inflation, driven by the above mentioned spike in pork, jumped to 3% in September.
- China’s exports to the U.S., it’s biggest overseas market, fell almost 22% over the last year.
- Depressed consumer spending and investment are having a big impact on slowing Chinese growth.
- Families nervous over job uncertainty have put off buying big ticket items, and dialed back spending on travel and other non-essentials.
- Factory growth dropped from 6% to 5.6% in the first 6 months of this year.
- Investment in factories, real estate and other fixed assets also slowed.
- “Eva Yi and Liang Hong of China International Capital Corp. estimate the slowdown wiped out some 5 million jobs in the first seven months of this year, mainly due to weak consumer demand. They said 1.3 million to 1.9 million jobs were lost to U.S. tariff hikes.”
Before Sentinel readers become envious of 6% Chinese growth, consider one critical factor. They’re a Communist government that reflexively and habitually lies.
Instead, pay particular attention to our last bullet point, and compare it to what we’re seeing in the United States. During their face off with Trump, China has lost millions of jobs, while we’re at our lowest unemployment rate in half a century, and have over a million more job openings than people filling those positions.
President Trump is leading the U.S.A. to an economic victory over a badly slumping China. But, for the love of God, don’t dare tell anybody in the Trump hating media that America is “Winning Again! Shh!