{"id":37719,"date":"2018-09-13T06:24:34","date_gmt":"2018-09-13T11:24:34","guid":{"rendered":"http:\/\/olduvai.ca\/?p=37719"},"modified":"2018-09-13T06:24:34","modified_gmt":"2018-09-13T11:24:34","slug":"the-next-financial-crash-is-imminent-and-chinas-resource-crisis-could-be-the-trigger","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=37719","title":{"rendered":"The next financial crash is imminent, and China\u2019s resource crisis could be the\u00a0trigger"},"content":{"rendered":"
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The next financial crash is imminent, and China\u2019s resource crisis could be the\u00a0trigger<\/a><\/h3>\n

Over three decades, the value of energy China extracts from its domestic oil, gas and coal supplies has plummeted by\u00a0half<\/strong><\/p>\n<\/div>\n

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Source: naturepost<\/a><\/figcaption><\/figure>\n<\/div>\n
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China\u2019s economic slowdown could be a key trigger of the coming global financial crisis, but one of its core drivers\u200a\u2014\u200aChina\u2019s dwindling supplies of cheap domestic energy\u200a\u2014\u200ais little understood by mainstream economists.<\/h4>\n<\/div>\n<\/div>\n<\/section>\n
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All eyes are on China as the world braces itself for what a growing number of financial analysts warn could be another global economic recession.<\/p>\n

In a BBC interview to mark the 10th anniversary of the global financial crisis, Bank of England Governor Mark Carney described<\/a> China as \u201cone of the bigger risks\u201d to global financial stability.<\/p>\n

The Chinese \u201cfinancial sector has developed very rapidly, and it has many of the same assumptions that were made in the run-up to the last financial crisis,\u201d he warned:<\/p>\n

\u201cCould something like this happen again?\u2026 Could there be a trigger for a crisis\u200a\u2014\u200aif we\u2019re complacent, of course it\u00a0could.\u201d<\/p><\/blockquote>\n

Since 2007, China\u2019s debts have quadrupled<\/a>. According to the IMF, its total debt is now about 234 percent of gross GDP, which could rise to 300 percent by 2022. British financial journalist Harvey Jones catalogues a range of observations from several economists essentially warning that official data might not reflect how bad China\u2019s economy is actually decelerating.<\/p>\n

The great hope is that all this is merely a temporary blip as China transitions from a focus on manufacturing and exports toward domestic consumption and services.<\/p>\n

Meanwhile, China\u2019s annual rate of growth continues to decline. The British Foreign Office (FCO) has been monitoring China\u2019s economic woes closely, and in a recent spate of monthly briefings this year has charted what appears to be its inevitable decline.<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"

The next financial crash is imminent, and China\u2019s resource crisis could be the\u00a0trigger Over three decades, the value of energy China extracts from its domestic oil, gas and coal supplies has plummeted by\u00a0half Source: naturepost China\u2019s economic slowdown could be a key trigger of the coming global financial crisis, but one of its core drivers\u200a\u2014\u200aChina\u2019s […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3],"tags":[130,312,14273,2092,3512,681],"class_list":["post-37719","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","tag-china","tag-financial-crisis","tag-medium","tag-nafeez-ahmed","tag-resource-crisis","tag-resources"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/37719","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=37719"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/37719\/revisions"}],"predecessor-version":[{"id":37720,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/37719\/revisions\/37720"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=37719"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=37719"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=37719"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}