Yes, China Is Staring At A Recession

Earlier this week, one reader parroted a familiar refrain: China isn't headed for a recession because the Chinese economy is going to grow this year by about 5%. Let me clarify a few things. First, a "recession" in the Chinese context doesn't necessarily have to mean an economic contraction. A "recession with Chinese characteristics" (if you will) could be a prolonged period of what, for China, would count as very subdued growth courtesy of ongoing drag from the property sector, moribund consum

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3 thoughts on “Yes, China Is Staring At A Recession

    1. As Heinlein observed:

      “Throughout history, poverty is the normal condition of man. Advances which permit this norm to be exceeded — here and there, now and then — are the work of an extremely small minority, frequently despised, often condemned, and almost always opposed by all right-thinking people. Whenever this tiny minority is kept from creating, or (as sometimes happens) is driven out of a society, the people then slip back into abject poverty.

      This is known as ‘bad luck.'”

  1. Ah yes, from the 4 pivotal books of the New Testament: Matthew, Mark, Luke, and John Stewart Mill. Much better than the Old Testament tale of how Adam & Eve Smith ate the fruit of the Tree of Markets.

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