China is in really bad shape. Definitely in a recession that I define as GDP growth that is less than 7%. Over 65 thousand companies have stopped operating, all or most have stopped paying wages or cut them significantly, the government is putting unemployment controls in place that requires any company that is going to lay off workers to get permission. Everything is done for the sole purpose of maintaining social “harmony” and preventing social disruptions that have accelerated recently. China is of no mind to print a number as low as the 6-7% that the country is really growing at. More on this later as I show the declines in export and production growth. The electricity production and consumption numbers that I sent on Wednesday are most telling.
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China is in really bad shape. Definitely in a recession that I define as GDP growth that is less than 7%. Over 65 thousand companies have stopped operating, all or most have stopped paying wages or cut them significantly, the government is putting unemployment controls in place that requires any company that is going to lay off workers to get permission. Everything is done for the sole purpose of maintaining social “harmony” and preventing social disruptions that have accelerated recently. China is of no mind to print a number as low as the 6-7% that the country is really growing at. More on this later as I show the declines in export and production growth. The electricity production and consumption numbers that I sent on Wednesday are most telling.
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