Posted on 08/09/2023 3:20:39 AM PDT by Oldeconomybuyer
BEIJING, Aug 9 (Reuters) - China's consumer sector fell into deflation and factory-gate prices extended declines in July, as the world's second-largest economy struggled to revive demand and pressure mounted on Beijing to release more direct policy stimulus.
Anxiety is rising that China is entering an era of much slower economic growth akin to the period of Japan's "lost decades", which saw consumer prices and wages stagnate for a generation, a stark contrast to the rapid inflation seen elsewhere.
China's post-pandemic recovery has slowed after a brisk start in the first quarter as demand at home and abroad weakened and a flurry of policies to support the economy failed to shore up activity.
(Excerpt) Read more at finance.yahoo.com ...
They aren’t developed well enough to meet their own needs internally, like the US can.
they’ll probably need a war to jump start their economy... that’s the usual neoCON plan here in the USA anyway..
That will help them pay off their internal debts. Not.
In other news most rivers broke their banks due to early rain season and 3 Gorges dam at maximum outflow.
BEIJING (Reuters) - There have been 33 deaths from heavy floods in China's capital of Beijing as of Aug. 8, with 18 still missing, Beijing Daily reported on Wednesday.
The disaster has stricken nearly 1.29 million people, causing the collapse of 59,000 homes and seriously damaging 147,000 homes, the newspaper said.
That’s not true. It wasn’t 33 people. It was more like 100,000, when China arbitrarily opened the dams to release water. They did it in the middle of the night, without warning.
That’s what I heard.
China is a bad harvest away from famine. They will export food, even if they can’t feed their own people.
True dat....seems photos are not readily available...courtesy by the fake news on the job.
The disaster has stricken nearly 1.29 million people, causing the collapse of 59,000 homes and seriously damaging 147,000 homes, the newspaper said. 
Now, with China's economic strategy has run its course, leaving the country overbuilt with a massive debt load and much wasted infrastructure and many apartments, office buildings, shopping malls, and even entire cities mostly empty. China also faces growing competition and resistance in export markets, while its population is graying and demographically imbalanced. China will get old without getting rich.
Unlike Japan, China is also adding the follies of threatening neighbors, alienating trading partners, and turning toward authoritarian domestic policies and military expansion. None of this ends well for China.
China flirts with deflation. Why is that a bad thing?
Beijing’s flirtation with deflation is linked, in large part, to the plunging cost of goods and services due to weak demand at home. Simply put: Chinese consumers are spending less, which is putting downward pressure on prices. A steep dip in imports last month – 12.4% year-on-year – signals that demand remains sluggish six months after President Xi Jinping ditched the growth-stifling zero-COVID policy.
https://www.gzeromedia.com/china-flirts-with-deflation-why-is-that-a-bad-thing
Failure to follow the US pattern of more consumer debt and more consumption. Instead, they are saving money.
This is a Reuters article, firstly, and being re-published in yahoo/finance! -- which reminds me of "news" organizations being actually fewer than we think, and re-publishers "amplifying" messages in the manner of Pelosi's "wrap up smear" method. He says that she says that they said. Chinese whispers made worldwide, so to speak. So, some questions....
"Anxiety is rising that China is entering an era of much slower economic growth akin to the period of Japan's 'lost decades', which saw consumer prices and wages stagnate for a generation, a stark contrast to the rapid inflation seen elsewhere."
Question -- for whom is this "anxiety" rising? With China as the object of the sentence, the sentence refers to other than China. Investors in China? Other nations?
Question -- "an era of lower growth?" Still it would be growth, so it seems this answers the first question, This is written with investors and venture capital in mind. As to "lower growth," the Western world is going through this as well, is it not?
Question -- "...consumer prices and wages stagnate for a generation" is not supported, except by reference to "lower growth" which is not the other element which is supposedly in contrast, "rapid inflation seen elsewhere?" Growth, slow versus growth in inflation "rapid." Does the sentence actually have anything to say? Except to assert someone has "anxiety?"
A "a year-on-year decline in consumer prices" is not a problem for consumers. It is a problem for manufacturers and sellers. Especially those unhappy with "slow growth."
So the whole of the article seems about economists worrying that an "economic engine" is weakening. Yup, that's happening in Europe as it is happening in Biden's (and Obama's) US. So who's anxious?
Those who had planned on winning more in the commodities game, it suggests. Rather like the fictional Duke brothers in "Trading Places." Being a story, we know how that story ended. Hmm.....
If ‘inflation’ is bad, wouldn’t ‘deflation’ be good?..................
.....given the non shooting war on America by the Chinese that’s been going on for decades, and their funneling through their fellow marxists, aka the Democratic Party, of billions of dollars that support anti-American policies like Biden’s immigration policies, fentanyl, Covid, defund the police, Soro’s type prosecutors, gays and trannies in the military and on and on endlessly................I can only be happy when I read news that is harmful to China. Call it Karma !!!
Then there’s the proliferation Of so called tofu-dreg construction. Massive Cyclopean dwellings that begin to fall apart before they are even completed. Fire hydrants that are nere props, connected to nothing.
The opposite of over regulation.
Make China 1959
China saw 226 million domestic trips during the Lunar New Year holiday, state media reported, a 74% surge from last year after the government lifted all travel curbs under its now-abandoned zero-Covid policy.
For the first time in three years, Chinese people were free to travel without the hassle of quarantine or fear of lockdown for the most important holiday of the year, when families reunite in their hometowns to celebrate the new year or go on vacation together.
The number of trips made inside China during the week-long holiday, which ended on Friday, is the highest since 2020. They include journeys made by all means from flights, trains and cars to boats.
But the figure still fell far below pre-pandemic levels. In 2019, 421 million domestic trips were made over the holiday.
https://www.cnn.com/2023/01/29/china/china-lunar-new-year-travel-intl-hnk/index.html
https://www.statista.com/statistics/1214090/china-number-of-chinese-new-year-travelers/
Clearly too expensive to be used.
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