With the accelerating economic problems it is looking less likely that China will ever overtake the USA.

http://www.bbc.com/news/business-66435870

"Most developed countries saw a boom in consumer spending after pandemic restrictions ended. People who had saved money were suddenly able and willing to spend, while businesses struggled to keep up with the demand.

The huge increase in demand for goods that were limited in supply - coupled with rising energy costs after Russia's invasion of Ukraine - inflated prices.

But this is not what happened in China, where prices did not soar as the economy emerged from the world's tightest coronavirus rules. Consumer prices last fell in February 2021.

In fact, they have been at the cusp of deflation for months, flatlining earlier this year due to weak demand. The prices charged by China's manufacturers - known as factory gate prices - have also been falling.

"It is worrisome as far as it shows that demand in China is poor while the rest of the world is awakening, especially the West," Alicia Garcia-Herrero, an adjunct professor at the Hong Kong University of Science and Technology, said.

"Deflation will not help China. Debt will become more heavy. All of this is not good news," she added."

China might be about to find out that capitalism just doesn't work with totalitarianism. Westerners might be about to discover the stupidity of plugging into Communism for money. And, what sort of person says "worrisome"!

The Australian's Foreign Editor, Greg Sheridan, stated the bleeding obvious when he said that China’s problems come from the "irrational top-down decisions" being used, instead of Western capitalist market mechanisms and price signals.

Your BBC article SM appears not to be the full story.
http://youtu.be/2GEDId_B02A?si=xbM9tw1IMY6rwyN0

Hi AC,

A good YouTube about the real situation with the Chinese economy, thank you. There are those who for ideological reasons have been claiming that the destruction of the Chinese economy is imminent, unfounded nonsense they have been making up for years. The American economy is what is looking dodgy, and of real concern, with inflation taking off and GDP slowing. the US economy lacks real productivity and relies on government and private borrowings to boost profits, whilst inflation skyrockets, shades of 1929. With American debt now at a record $32.8 trillion, and no end in sight, and with an incompetent capitalist administration led by that old fool Biden, what can one expect. In the last year the countries debt has increased by over $2 trillion, in a feeble attempt to keep the economy afloat. War will be their only answer, and not just in Ukraine.

Hi Paul,

Sean Foo puts out new short videos every day or so.
- And not just on China, but also US.

Here's one from yesterday discussing the US.

Oh SH.T, The Fuse Has Been Lit!
http://youtu.be/kX3FdovOA8s?si=ZPxDwa_76daIbKT4

I also don't mind Michael Hudson
Watch a few minutes of this...

A New Bipolar World. US finance capitalism vs. China's mixed public/ private economy
http://youtu.be/E_zY44YClCY

You see this Rules-Based-Order
It's not about defending international laws and recognised national boundaries...
- The US controls the money system, it's about defending US global hegemony.
Democracy is just a tool for US economic imperialism.
They decide the rules, and they sanction; or overthrow anyone who doesn't go along with it;
- Or just because they can - and they install their own puppet ruler government with policies favourable to the US
under the guise of 'democracy', against 'authoritarians', 'violators of human rights'
This is why they are worried about 'The Rise' of China'

Look at this:
Marco Rubio laments De-dollarisation
"There will be so many countries trading in currencies outside the dollar that we wont be able to sanction them anymore."
http://twitter.com/DenisRogatyuk/status/1642675471447109632

How can I explain it all better...
- The US wages war against other countries even during 'peacetimes'
It defends a system that has allowed it to print endless money.
Other countries need US dollar reserves to conduct trade in oil and other goods, and this trade is conducted via the SWIFT system.
That means there's always demand for the US dollar, and the US can use it as a weapon with sanction.

Then to add to this, you have the US fifth columns 'All For Democracy' going in there to cause civil unrest, backing opposition groups, conducting regime changes etc.

"it is looking less likely that China will ever overtake the USA."

They were never going to overtake the USA in terms of the total value of the economy and absolutely not in terms of per capita wealth. It was just another one of the fantasies of the anti-US brigade. I remember in the 1970-80's we were told that the Soviet Union was going to overtake the US. Famously, JK Galbraith said in 1985 that the takeover would happen within a decade. Six years later the USSR was no more. then it was going to be Japan that overtook the great Satan. Oops. Then it was going to be the EU. Double oops. Then it was going to be China.

Japan slipped into a deflationary period in the 1990's and, despite stabilising the situation, they've never really been able to recover their previous dynamism. Deflationary cycles are notoriously hard to break, even if the economy is basically sound. And the Chinese economy is anything but sound.

Still, making assessments about China is difficult because no one can trust any of the official government statistics. Whatismore, those doctored numbers are so bad that the government has simply stopped publishing them.

http://www.nbcnews.com/news/world/china-suspends-data-youth-unemployment-rcna99929

(Actually China has stopped publishing ie started hiding about 70000 statistical reports)

The most important number we don't know about China is the population data. Few believe the official numbers, but the unofficial numbers range from 800 million to 1.2 billion. Whatever, the demography is a disaster for the CCP and they can't change the direction.

Mark Steyn said 20 years ago "China will get old before it gets rich." And so it has come to pass.

Totalitarian countries with a failing economic system have a tendency to divert the population with foreign adventures. Where are those Tomahawk missiles?

AC,

I see that you have served up another plate of bollocks.

-The US does not control the world's money system,
-Dollar reserves are not required to trade in oil, it is just simpler.
-All countries are free to trade in any currency they want, the yuan and ruble are not freely traded reliable currencies.

The British pound is used for trading far more than the yuan because it is freely traded not because the UK is imperialistic.

Clearly you have no clue as to economics.

Heckle and Jeckle

"it is looking less likely that China will ever overtake the USA."
- It's actually inevitable.

"The US does not control the world's money system"
Yes they do, it's not just about the US dollar, it's about the SWIFT payment system and the ability to sanction.

The BRICS 11 (with OPEC members) will control 47% of oil supply
The new BRICS members officially come into the bloc on Jan 1 and Russia also takes the leadership of BRICS 11 next year.
A further expansion BRICS next year may add Algeria, Venezeula, Kazakhstan (and others) and control 70% of global oil supply.

The bloc will have food and energy security and the US will not be able to sanction them as they will de-dollarise and use their own payment system.
They may in fact be able to sanction the West.
Developing nations within the bloc will stop exporting as much raw materials and start producing more refined and value-added end products, like coffee.

Watch 5 or 10 minutes of this, and see what's in store.
PEPE ESCOBAR AND MICHAEL HUDSON JOIN ON BRICS PLUS SIX, UKRAINE, AND THE MULTIPOLAR WORLD ECONOMY!
http://www.youtube.com/live/g32m8XaSnEE?si=pbY1ho0tW4XIIxRk&t=845

"Clearly you have no clue as to economics."
- Well, it's always good to learn something new, maybe you could do the same.

I may not always be right, but you pair aren't really any better.
Where you two frequently say I'm wrong, I'm certainly no more wrong than either of you.

Baldrick,

The Swift system is owned and controlled by the EU not the US. As for sanctions, the reason China is so poorly regarded by the world is that it has happily applied sanctions to countries writ large.

If China's economy continues following the Japanese model, China will stagnate for a decade or more. That they have a demographic crisis will cripple them after that.

When everyone has woken up to the Chinese economic crisis but you, perhaps you should wake up.

Well, I see that you haven't woken up to the fact that if it's on the evening news, it's likely 80% propaganda, if you take into account the fearmongering and lying by omission.

Oh btw -
"I see that you have served up another plate of bollocks."
- I see that you and your Ukrainian NAZI buddies still haven't kicked off the beach party in Crimea

Baldrick,

Actually, the Ukrainians landed in Crimea, destroyed a range of missile batteries, killed several dozen Russian Nazis before they could get dressed and left them with a Ukrainian flag flying.

Actually, the news is not from the TV, it is from economists working in China.

"Russian NAZI's"
Russians lost 27 million people defeating the NAZI's.
1 in 7 lost their lives defeating them.

'Russian NAZIs'
- That's as bad as SR telling mhaze he has Trump Derangement Syndrome.
I don't know if you jumped ship and joined the retards, (you were probably already on the fence) but all this upside down bs is becoming seriously disturbing.

'Ukrainian flag flying'.

That was their aim for Ukraine's independence day?
- That's childish petty schoolyard bs but I did tell you it's all about the optics, all about the propaganda war, mostly for the sake of the Ukrainians themselves.

The West are bat-shite crazy, they want Crimea more than the Ukrainians do.

If they wish to risk their lives for something so laughable and pathetic, I say go right ahead and try to raise some more flags.
The only result will be growing cemeteries.

Honestly I wasn't expecting you to tanty out like that, just by reminding you about the failed Crimean beach party.
Obviously I upset you there.

Baldrick,

Russia today is far closer to Nazi Germany than any other country by miles. Putin/Hitler is a simple swap.

There are no Nazis in Ukraine which is a democratic country with a Jewish president.

We've been down this road in a previous thread. Yes there are Nazis or Nazi sympathisers in Ukraine. In the last election they achieved less than 2% of the vote. 2% !! If that makes Ukraine Nazi then the US is communist.

There are also Nazis in Russia. We can't use vote counts to determine their relative power since Russia doesn't have anything even close to reliable voting statistics. But it's estimated there are 70000 Nazis or Nazi sympathisers in Russia. Any idea why the Wagner Group is named after Hitler's favourite composer?

The whole Nazi claim is just another excuse used by Russia and Russian apologists to justify naked aggression.

Country Garden, China's biggest private real estate developer has now defaulted on loan repayments. Exports, consumer confidence, consumer spending, and the share market values have collapsed and foreign capital is fleeing.

Dairy and meat prices have fallen because Chinese citizens can't afford to buy them.