China's Industrial Profits Nose-dive

Recession on its way for China ?
Don't know but I can't seem to find hardly anything not made in China here. Food, crackers, candies , peanuts, cookies, honey to which I'd never buy.



China’s industrial profits fell 20.6 per cent in the January-April compared with the same period last year, although it was slower than the 21.4 per cent decline reported in the first quarter, according to data from the National Bureau of Statistics.


mod note
source
www.straitstimes.com...

Guess the old adage still holds true. When the US sneezes the rest of the world catches a cold.

China sells to the entire world people don't have the same amount of money they use to

Not just the USA every country that participated in the COVID insanity now has less than they did

a reply to: ntech

It's way bigger than that.

China stretched itself way too thin by giving away trillions of dollars in loans to poor countries and now the poor countries can't pay back their debt. These debts are at such high and unfavorable interest rates that the debt to China is nearly half of these nations' yearly GDP. It's unsustainable and many poor nations will collapse because of this.

At the same time, China is not doing well themselves and now they can't cash in on the debt, even though they are trying to.

One of China’s biggest cities is so cash-strapped it’s calling in debts

Wuhan is calling in debt from Chinese companies and Chinese companies can't get debt paid by foreign investments. Looks like the Chinese attempt at global domination through coerced economy won't age very well.

And then there's the numerous 'ghost cities' they built in China, Mongolia and Africa; someone put trillions of dollars into those and they likely didn't use cash. Those debts will have to be paid eventually too.