Source: Brownstone Institute
by Peter St Onge
“China is going pear-shaped as Beijing panics and wheels out the ‘monetary bazooka.’ Cue the Worldwide inflation. Just a few weeks ago I did a video about how China is on the edge of recession. Weeks later, the edge of recession has now progressed to a full-blown Chinese fire drill. Last week, China’s ruling Politburo held an emergency economic meeting and decided to crank up the money printers to 11, pumping money to consumers, to banks, to property developers, basically to anybody who might spend it. … Beijing’s doing everything it can to get money out in the wild, down to bankrolling gamblers and pouring yet more trillions down the black hole of China’s comically over-built housing market. You may have seen the ghost towns China’s built; here comes round two.” (10/06/24)
https://brownstone.org/articles/china-enters-the-economic-doom-loop/