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filoria
IMF: your housing market is collapsing
China: yeah we know
IMF: so how about you bail out those poor housing investors
China: …no thanks
IMF: surprised Pikachu
US sanctions going well
Odd how this happens just as America’s foreign policy talking heads had to turn onwards to deal with Biden’s collapse…
Almost as if the US is the main impediment to peace in the region.
Can you spell racism for me?
The story not being told is that Chinese factories are absurdly automated compared to the rest of Asia - their competitors are South Korean and Japanese factories, but they’re entering markets that are still heavily labour-centric. China is spearheading this new evolution of industrial manufacturing and everyone else is forced to either adapt or die.
4.7% YoY Q2
5.3% YoY Q1
0.7% QoQ Q2
1.5% QoQ Q1
Retail sales were the contributor (2.0% YoY growth, vs. 3.3% expected)
Retail growth is being sandbagged by a few key factors:
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Luxury goods demand being beaten to the absolute ground. Eviscerated.
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Foreign brands have tanked in China - Apple, foreign cars, etc. and have been replaced by (cheaper) domestic alternatives like Huawei, BYD, etc.
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New trade restrictions with the US and Europe have limited Chinese consumption patterns. For example, the RTX 4090 is blocked from being exported to China.
Definitely no signs of foreign interference, which the US would never do in South America.
If anyone wanted more evidence of how IMF loans are not in the best interests of the countries that take them, see here.