{"id":38568,"date":"2018-10-02T06:43:03","date_gmt":"2018-10-02T11:43:03","guid":{"rendered":"http:\/\/olduvai.ca\/?p=38568"},"modified":"2018-10-02T06:43:03","modified_gmt":"2018-10-02T11:43:03","slug":"they-are-worried-about-panic-china-blocks-bad-economic-news-as-economy-slumps","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=38568","title":{"rendered":"&#8220;They Are Worried About Panic&#8221;: China Blocks Bad Economic News As Economy Slumps"},"content":{"rendered":"<div id=\"block-zerohedge-page-title\" class=\"block block-core block-page-title-block\">\n<h3 class=\"page-title\"><a href=\"https:\/\/www.zerohedge.com\/news\/2018-10-01\/chinas-ministry-truth-blocks-bad-economic-news-reporting-growth-slumps\"><span class=\"field field--name-title field--type-string field--label-hidden\">&#8220;They Are Worried About Panic&#8221;: China Blocks Bad Economic News As Economy Slumps<\/span><\/a><\/h3>\n<\/div>\n<div id=\"block-zerohedge-content\" class=\"block block-system block-system-main-block\">\n<article class=\"node node--type-article node--view-mode-full\" role=\"article\" data-gtm-vis-recent-on-screen-2077925_22=\"1057\" data-gtm-vis-first-on-screen-2077925_22=\"1057\" data-gtm-vis-total-visible-time-2077925_22=\"100\" data-gtm-vis-has-fired-2077925_22=\"1\">\n<footer class=\"node__meta\">\n<div class=\"submission-wrapper\"><\/div>\n<\/footer>\n<div class=\"node__content\">\n<div class=\"clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item\">\n<p>China&#8217;s Shadow-banking system is collapsing (and with its China&#8217;s economic-fuel &#8211; the credit impulse), it&#8217;s equity market has become a slow-motion train-wreck, its economic data has been serially disappointing for two years, and its bond market is starting to show signs of serious systemic risk as <a href=\"https:\/\/www.zerohedge.com\/news\/2018-09-30\/chinas-bond-market-cracks-2018-will-be-record-year-onshore-bond-defaults\">corporate defaults in 2018 <\/a>hit a record high.<\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/inline-images\/2018-10-01_10-20-14.jpg?itok=JXAONFvc\" data-image-external-href=\"\" data-image-href=\"\/sites\/default\/files\/inline-images\/2018-10-01_10-20-14.jpg?itok=JXAONFvc\" data-link-option=\"0\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/inline-images\/2018-10-01_10-20-14.jpg\" srcset=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/styles\/inline_image_desktop\/public\/inline-images\/2018-10-01_10-20-14.jpg?itok=JXAONFvc 1x\" alt=\"\" width=\"500\" height=\"263\" data-entity-type=\"file\" data-entity-uuid=\"a42454ed-d890-4663-8e01-7ecc505138c4\" data-responsive-image-style=\"inline_images\" \/><\/a><\/p>\n<p>But, if you were to read the Chinese press, none of that would be evident, as <a href=\"https:\/\/www.nytimes.com\/2018\/09\/28\/business\/china-censor-economic-news.html\"><em>The New York Times reports<\/em><\/a> a government directive sent to journalists in China on Friday named <strong>six economic topics to be &#8220;managed,&#8221; as the long hand of China&#8217;s &#8216;Ministry of Truth&#8217; have now reached the business media in an effort to censor negative news about the economy<\/strong>.<\/p>\n<p><a href=\"https:\/\/www.nytimes.com\/2018\/09\/28\/business\/china-censor-economic-news.html\">The New York Times lists<\/a> the topics that are to be &#8220;managed&#8221; as:<\/p>\n<ul>\n<li>Worse-than-expected data that could show the economy is slowing.<\/li>\n<li>Local government debt risks.<\/li>\n<li>The impact of the trade war with the United States.<\/li>\n<li>Signs of declining consumer confidence<\/li>\n<li>The risks of stagflation, or rising prices coupled with slowing economic growth<\/li>\n<li>\u201cHot-button issues to show the difficulties of people\u2019s lives.\u201d<\/li>\n<\/ul>\n<p>The government\u2019s new directive betrays a <strong>mounting anxiety among Chinese leaders that the country could be heading into a growing economic slump.<\/strong> Even before the trade war between the United States and China, residents of the world\u2019s second-largest economy were showing signs of keeping a tight grip on their wallets. Industrial profit growth has slowed for four consecutive months, and China\u2019s stock market is near its lowest level in four years.<\/p>\n<blockquote><p><strong><em>\u201cIt\u2019s possible that the situation is more serious than previously thought or that they want to prevent a panic,\u201d<\/em><\/strong>said Zhang Ming, a retired political science professor from Renmin University in Beijing.<\/p><\/blockquote>\n<p>\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;They Are Worried About Panic&#8221;: China Blocks Bad Economic News As Economy Slumps China&#8217;s Shadow-banking system is collapsing (and with its China&#8217;s economic-fuel &#8211; the credit impulse), it&#8217;s equity market has become a slow-motion train-wreck, its economic data has been serially disappointing for two years, and its bond market is starting to show signs of [&hellip;]<\/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":[2,6],"tags":[130,6941,391,512,8845,6876],"class_list":["post-38568","post","type-post","status-publish","format-standard","hentry","category-economics","category-liberty","tag-china","tag-chinese-stock-market","tag-growth","tag-media","tag-media-censorship","tag-shadow-banking"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/38568","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=38568"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/38568\/revisions"}],"predecessor-version":[{"id":38569,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/38568\/revisions\/38569"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=38568"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=38568"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=38568"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}