{"id":66083,"date":"2023-11-01T06:17:57","date_gmt":"2023-11-01T11:17:57","guid":{"rendered":"https:\/\/olduvai.ca\/?p=66083"},"modified":"2023-11-01T06:17:57","modified_gmt":"2023-11-01T11:17:57","slug":"the-writings-on-the-great-wall-for-a-china-crash","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=66083","title":{"rendered":"The Writing\u2019s on the Great Wall for a China Crash"},"content":{"rendered":"

The Writing\u2019s on the Great Wall for a China Crash<\/a><\/h3>\n
As the economy continues to implode, capital flight rises.<\/strong><\/div>\n
\n
\n
\n
<\/div>\n<\/div>\n<\/div>\n<\/div>\n
\n
As the saying goes, if you want to know what\u2019s really going on, follow the money. That catchphrase doesn\u2019t just apply to foreign companies and investors backing out of China. It also applies to the Chinese economy.A No-Confidence Vote<\/strong><\/p>\n

In the midst of widespread economic duress and growing social disruption, following the money trail shows how Chinese investors are voting with their wallets. Consumer spending is\u00a0down<\/a>, and the savings rate is\u00a0up<\/a>. Capital is flowing out of China any way it can, and it all amounts to a definite no-confidence vote for Xi Jinping and the Chinese Communist Party (CCP).The CCP Tries to Hide the Facts<\/strong><\/p>\n

In true CCP fashion, the state puts the blame for its failed policies on those who point them out. Anyone who mentions the crumbling economy, for example, is guilty of endangering\u00a0financial stability<\/a>. Even though the CCP would consider\u00a0prosecuting journalists<\/a>\u00a0and economists who report accurately about the falling employment numbers and the\u00a0high debt levels<\/a>\u00a0that plague local governments, China\u2019s worsening economic conditions are too dramatic and widespread to hide.<\/div>\n

Of course, financial stability isn\u2019t threatened by people talking about it. It\u2019s the CCP that\u2019s destroying the economy. Even recent history shows that the less involved the Party is in the economy, the better it performs.<\/p>\n

The property market and the development sector are perfect examples, although not the only ones. Both continue to be heavily manipulated by the CCP, and both are hemorrhaging value, as financial ruin in flagship companies such as Evergrande and Country Garden contribute to\u00a0deteriorating conditions<\/a>\u00a0in the wider economy. Completed projects that remain unsold are being demolished, work on existing projects is being\u00a0halted,<\/a>\u00a0and other development plans are being\u00a0canceled<\/a>, even as the development companies owe billions to creditors.\u2026click on the above link to read the rest\u2026<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Writing\u2019s on the Great Wall for a China Crash As the economy continues to implode, capital flight rises. As the saying goes, if you want to know what\u2019s really going on, follow the money. That catchphrase doesn\u2019t just apply to foreign companies and investors backing out of China. It also applies to the Chinese […]<\/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],"tags":[130,238,24417,16350],"class_list":["post-66083","post","type-post","status-publish","format-standard","hentry","category-economics","tag-china","tag-economic-crash","tag-james-gorrie","tag-the-epoch-times"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/66083","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=66083"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/66083\/revisions"}],"predecessor-version":[{"id":66084,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/66083\/revisions\/66084"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=66083"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=66083"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=66083"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}