Today’s chuckle


China’s growth will slow to 2% by the end of the next decade from 6.9% last year, a London-based research firm has predicted, painting a gloomy picture for the world’s second biggest economy. The report presents an unusually bearish view on the future of China’s $12 trillion economy and casts doubt on its growth model at a time when a growing number of institutions – including the International Monetary Fund – are agreeing with Beijing’s assertion that the country will continue to report steady, albeit slightly slower, expansion.

The country has reported almost uninterrupted strong growth in the last four decades, evolving from an economic backwater to a global powerhouse. It recorded the first acceleration in seven years with annual growth of 6.9% in 2017, accounting for nearly one-third of global growth.

China’s expansion last year outpaced most developed countries – such as 2.3% in the United States and the euro zone – but was slightly lower than India’s 7.1%. Beijing does not expect a sharp deceleration. Cai Fang, vice-president of the Chinese Academy of Social Sciences, a prominent government think tank, told the South China Morning Post in March that economic growth was expected to remain above 3% through 2050.

So China’s economy grew 13x in the last twenty years but will come to a near standstill shortly. Ok then. And that’s not the only chuckle for zim and zir.

2 Responses to “Today’s chuckle”

  1. feeblemind Says:

    Well . . . China does have a mountain of debt and they have a rapidly aging workforce. . . . and they have never had a serious economic downturn. . . . but maybe none of that matters?

    re Chuckle:

    What happens when the SJWs take offense at the officially sanctioned zim and zir?

  2. feeblemind Says:

    I don’t agree with the certainty that China would back down, but that is the thinking here:

    China’s Clear and Present Threat

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