China on the Edge of Recession – by Peter St Onge
China is on the edge of recession excluding Covid, for the first time since 2008 as new data showed all-important manufacturing contracted for the fourth month in a row with particular weakness in new orders.
In other words, what they ve got is backlog, then it’s a cliff.
Manufacturing makes up a third of China s economy much more than the US. While the collapse in China property another third of China s economy is adding fuel to the fire.
Welp. Those darn centrally-planned economies. How is Argentina doing these days?