China’s economy is quietly inching towards complete collapse according to experts, and they may never be able to recover from it.
Analysts are warning that China is going through one of its worst financial crisis in history – suggesting the economic conditions there are much worse than the government is letting on.
The Chinese economy has been impacted heavily by the government’s draconian lockdown measures which hundreds of millions of people unable to work and the pace of growth has slowed to unprecedented levels as a result.
The slowdown is perhaps most evident in China’s housing market, where the cracks are starting to become impossible to ignore. The Chinese housing market has seen a whopping 40% drop in home sales this year.
Meanwhile, China’s banks have lent out far too much money and now the fear is that people will begin defaulting on their mortgages, leaving banks stuck with massive amounts of non-performing loans.
At the same time, while the rest of the world’s central banks are raising rates to fight inflation, the People’s Bank of China is cutting interest rates in an effort to resuscitate a dead economy, but the Chinese Yuan has taken a major hit as a result.
The Yuan is down more than 8% against the U.S. dollar this year, marking the biggest drop since 1994 – and experts warn it could get much worse.
To fully understand how China’s economy is about to crumble, and what it means for the rest of the world, watch the video here.
I feel sorry for the citizens but not for the crooked government officials!
I feel bad for them as well, but honestly under Biden admin, we aren’t far behind. Cold and hungry people are desperate, pray for us!
WITH THE BIDEN REGIME, WE ARE CLOSE TO DISASTER. BUT WE THINK THIS WAS ALL ORCHESTRATED A LONG TIME AGO. WE HAD IT GOOD UNDER TRUMP. BUT SAD TO SAY SOME BITE THE HAND THAT FEEDS THEM SO NOW WE PAY THE PRICE.