Arab News:
BEIJING: China’s manufacturing activity contracted for a fifth straight month in August, an official survey showed on Thursday, maintaining pressure on officials to provide support to shore up economic growth amid soft demand both at home and abroad.
The official purchasing managers’ index (PMI) rose to 49.7 from 49.3 in July, according to the National Bureau of Statistics, staying below the 50-point level demarcating contraction from expansion. The reading was above a forecast of 49.4.
The world’s second-largest economy risks missing Beijing’s annual growth target of around 5 percent as officials wrestle with a worsening property slump, weak consumer spending and tumbling credit growth, leading major banks to downgrade their growth forecasts for the year.
“It’s too early to tell, but today’s print suggests that a sequential uptick in growth activity in the third quarter could still be possible,” said Louise Loo, senior economist with Oxford Economics.
“Particularly if incoming stimulus starts feeding through to the economy.”
Beijing on Sunday announced halving the stamp duty on stock trades, the first cut to the tax since 2008, to boost investor sentiment. more
China is in a recession… we are too, but our jacked up numbers don’t show it!
This could all be orchestrated on purpose to destroy the west. I wouldn’t put it past the commie bastards. They don’t care at all about their own people.
If they didn’t want a recession in China they shouldn’t have put biden and his cronies in power here.
The Chinese President will take another vacation. I don’t know what Xi is going to do.
increase viagra dosages?
Think about it.
Paper fake highly polluting economy that holds US treasuries & bonds. For years everyone was worried,” What if they dump the US financial instruments ALL at ONCE”?
Result: they shoot themselves in BOTH FEET as the value drops their own held asset drops.
America tricked them into funding & upholding the American standard of living. Sure, its still falling but the Hongs will fall faster.
China’s entire economy has always been based on the U.S. consumer a cheap raw materials. The Chinese economy is a hand grenade. And DJT pulled the pin.
don’t know about you folks, but a lot of people I talk to daily are really fed up w/ cheap, Chinese junk that’s being foisted upon us by Scamazon & Wally World. they’re getting to the point that they’d rather pay extra for US made (or at least non-Chinese made … case in point: some decent furniture is coming from Vietnam … I know, I know … don’t bust my chops, blame our government for that shit)
don’t buy chink shit