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☆ Yσɠƚԋσʂ ☆@lemmygrad.ml to Memes@lemmygrad.mlEnglish · 1 year ago

Chinese Economy Collapsing

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Chinese Economy Collapsing

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☆ Yσɠƚԋσʂ ☆@lemmygrad.ml to Memes@lemmygrad.mlEnglish · 1 year ago
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  • Flyberius [comrade/them]@hexbear.net
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    1 year ago

    Lol at the UK just making shit up.

    • Tankiedesantski [he/him]@hexbear.net
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      1 year ago

      Making shit up and still getting beaten by the “lazy” French and Italians.

    • HaSch@lemmygrad.ml
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      1 year ago

      UK’s books are in the black again because they ran out of red ink

      • redtea@lemmygrad.ml
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        1 year ago

        Stocks in left over black ink from all those old inkjet printers found in landfill sites increase GDP by 4pts this year as it’s revealed that adding a bit of water brings then back to liquid.

        …

        Turmoil in Britain this week as Nestlé refuses to let the British use water for bathing, choosing instead to sell Britain’s waterways to the highest bidder—second-hand ink manufacturers. The price increase of Nestlé shares raise GDP another 3pts.

    • deft
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      1 year ago

      What’s the source for this post?

      • CloutAtlas [he/him]@hexbear.net
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        1 year ago

        https://www.imf.org/external/datamapper/NGDP_RPCH@WEO/OEMDC/ADVEC/WEOWORLD

        Even the IMF puts China at 4.2 in Q3 (Oct 2023).

        • deft
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          1 year ago

          That just continues to show this post is inflated and not really a good source of information.

          • CloutAtlas [he/him]@hexbear.net
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            1 year ago

            Extrapolating the data from the first 9 months (aka first 3 quarters) of 2023 to estimate what the last 3 months provided isn’t inflating it? Look at the IMF’s data for the US and UK and what OP’s graph projects.

            If it’s about giving China a handjob why would they inflate the US’s GDP as well?

            • deft
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              1 year ago

              It is absolutely inflated do the math yourself. China does not pass 5.

              • CloutAtlas [he/him]@hexbear.net
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                1 year ago

                You can’t possibly make that claim without showing your mathematics to disprove it, fam.

                If something rises from 0 to 4.2 in 270 days, how would it not hit at least 5.0 on 365 days?

                You probably think it’s a bunch of bots you’re arguing with but man, you’ll take anti-China articles at face value without ever looking further than a headline but will disregard anything even pro-China as propaganda, I think you might be extremely biased.

                Also while this was happening I found a Reuters article that says also states 5.2% growth in Q4 and it’s a criticism of China that it’s LOWER

                Like at this stage a sane person would just concede right?

                • deft
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                  1 year ago

                  A, Go through this post look at how your comrades act. Don’t act like I’m the problem here. How many replies and like three of you actually have anything of merit to say. So who is actually insane?

                  B, Housing drag plus deflation pressure plus decreasing demand abroad for Chinese goods.

                  but the real kicker? Their economy didn’t match the prediction at all from last year which wouldn’t be huge except experts adjusted their estimates almost monthly for China and that suggests a lot. Mostly that the information being publicly pushed isn’t reliable and should be considered unreliable.

                  https://www.cnn.com/2023/12/27/economy/china-economy-challenges-2024-intl-hnk/index.html

                  https://www.bloomberg.com/news/articles/2022-10-28/china-s-growth-now-seen-below-5-through-2024-on-covid-zero-risk

                  https://www.aljazeera.com/economy/2023/12/22/after-bumpy-recovery-chinas-economy-faces-serious-headwinds-in-2024

                  https://www.cnbc.com/2023/07/24/jpmorgan-citi-goldman-cut-china-gdp-forecast-a-few-times-this-year.html

                  China will grow sure. But since the 90s they say every decade they will pass the US and they don’t. Because the numbers aren’t real even the IMF knows it that’s why they have the disclaimer right there underneath the graph y’all are stuck on. They talk about it too.

                  All of this could just be me. But foreign investment has slowed into China and that’s what I personally look for. Those who know, clearly know.

                  • CloutAtlas [he/him]@hexbear.net
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                    1 year ago

                    I’ll just reply here, let’s go through those links.

                    First link, second paragraph:

                    "Despite its many problems — a property crisis, weak spending and high youth unemployment — most economists think the world’s second largest economy will hit its official growth target of around 5% this year. "

                    Second link, publish date:

                    October, 2022 based on, and bear with me, China being in lockdown for a significant portion of 2022 (remember China was under harsher lockdowns for much longer than the west, 2022 was a slow year and the Bloomberg article was extrapolating on that data)

                    Third link, pure speculation from a ROC journalist, but even in said link, 8th paragraph:

                    While the International Monetary Fund (IMF) expects the Chinese economy to finish the year at 5.4 percent growth, economists predict a slowdown in 2024

                    4th link, 3rd paragraph

                    (July 2023) The U.S. investment bank most recently cut its China GDP forecast in July to 5%, down from 5.5% previously.

                    However, you insist it doesn’t pass 5 and will not retract that statememt. It seems like you’ve already made up your mind.

                    Regarding:

                    Housing drag plus deflation pressure plus decreasing demand abroad for Chinese goods.

                    Look, I’m looking at an increase in exports, as far as data I can find shows, the only yoy decrease was a 1% one in 2019. And this is inclusive of much more recent sanctions against China in the semi conductor market (which was also supposed to collapse but China pivoted and somehow recovered)

                    China will grow sure. But since the 90s they say every decade they will pass the US and they don’t.

                    Yeah, look can you honestly look at the last few years of US Statesmanship and see it surviving? The Roman republic didn’t need to surpass Macedon, they just needed for Macedonia to collapse. It then had room to surpass Alexander’s empire. China’s timeline is several thousand years. Liberalism, specifically neoliberalism, is collapsing within less than 100.

                    If I were a gambling man, I would wager on the elder civilization. The one that gave the world paper, printing, gunpowder and the compass over the one that’s about to elect another dementia ridden Zionist (guess which one I’m talking about, lol)

                    As for the behaviour of my comrades: if I had a guess you were the 1,000th to come in with these takes and almost smug certainty of western sources 100% accurate Chinese all inflated lies. A lot of people will just link you to a red sails article or something of the sort, most people don’t engage in actual discussions. If “tankies” kept showing up in your spaces, I’ve no doubt your friends would resort to Tiananmen square spam copypasta after a while.

              • Che's Motorcycle@lemmygrad.ml
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                1 year ago

                4.2 / 3 = 1.4

                4.2 + 1.4 = 5.6

                If anything, the screenshot is underestimating the fourth quarter.

                • deft
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                  1 year ago

                  because that’s not how they do the math lol

                  there is a lot more than that. which is why the number you got and that number is wrong.

                  Weird right? You put actual thought in and realize that’s not truthful. Interesting huh?

                  • CloutAtlas [he/him]@hexbear.net
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                    1 year ago

                    Ok, let’s ignore Reuters because they’re probably Chinese shills or the IMF estimating 5.4%, 0.2% higher than the official CCP figure released in Jan because the International Monetary Fund are communist shills as well.

                    You’ve already got it set in your mind, no amount of evidence from even western sources will change your mind, I get it.

                    But, hypothetically, it was proven to be 5%. Would you go back and question the sources that told you it wasn’t? Or continue to chug along as you are now, taking those sources at face value?

                    Chinese journalists who under reported figures 4.8% at the start of Jan found out they were wrong and retracted the articles because it was factually incorrect, western media pounced on it because “Wow China’s censoring journalists that says the economy is bad, therefore the only conclusion is their economy is bad, that’s the conclusion we’re implying here” and then a few days later even Reuters was like “oh yeah it was over 5%” and it’s crickets from the people that implied “China SCRUBS CLEAN ALL EVIDENCE OF BAD ECONOMY” you’ll continue to remember it as the latter for the rest of your life.

              • cayde6ml@lemmygrad.ml
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                1 year ago

                Drone

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