Chinas Wirtschaft schwächt sich stark ab, da Probleme auf dem Wohnungsmarkt die Ausgaben drücken

https://www.nytimes.com/2024/07/14/business/chinas-gdp-q2.html?campaign_id=9&emc=edit_nn_20240715&instance_id=128795&nl=the-morning&regi_id=53831380&segment_id=172185&te=1&user_id=fe5d662adf685ae9dedd7464c832fcdf

12 comments

  1. Literally no residential construction is needed anymore, they have enough apartments for 2 billion people. But residential construction was the lynchpin of their economy, ever since their labour became too expensive to manufacture junk for export.

    Xi is trying to replace residential construction with manufacturing construction. Problem is, there was a glut in industrial capacity years ago, so he’ll only create more of a glut. And the world doesn’t need more goods. It needs better goods.

    They can’t increase exports of services, because the third world doesn’t need them and doesn’t have the money to pay for them.

    Basically, you can’t push on a string. The world doesn’t need any more of the Chinese economy. And China can’t produce what the Chinese economy needs.

    It’ll be interesting to see if Xi steps down as president, or if the party has to use (ahem) other means to change leadership.

  2. I’ve noticed that almost nothing I’ve been buying lately says “Made in China” anymore. Lots of India, Taiwan, Pakistan, Malaysia, Philippines, etc. 

  3. What paywall? – I could see and read the article, nothing got in my way.

    There was some slowdown in consumer spending, but exports are still increasing. I think the culture in China still have a lot of focus on exports instead of consumer spending. The overbuild in housing units may allow Chinese workers to live on lower pay and therefore be more competitive in exports. The growth still looks healthy for China.

  5. China’s economy was supposed to collapse a few years ago. I think China has this contained. Same for the US. The market was supposed to crash in 2022 but it didnt.

  6. They should start manufacturing and shipping out tiny homes. Solve that crisis.

  7. The International Monetary Fund (IMF) has upgraded its growth forecast for China to 5% for 2024, reflecting a strong start to the year and continued recovery momentum

  8. The warning signs have been there for years. I remember reading an article in International Security warning about what’s happening today. This is why manufacturers are doing their level best to yank anything they can out of there.

  9. This will,of course, impact the rest of the world,but dumb dumb Magas don’t understand macroeconomics. 

  11. That’s what happen when the CCP is laser focused about funding more on the army and navy and threatening countries like Philippines and many other countries with territorial disputes than focusing in their economy.

  12. Slowed growth is still positive growth, especially when it’s exponentially building upon an already large base. 

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