China's economic downturn is more shocking than outsiders realize, says former Chinese property mogu

[kevindavis007]

Conditions in the Chinese economy are worse than the world thinks, a self-exiled property entrepreneur told The New York Times.


According to Desmond Shum — once at the head of a multibillion-dollar development firm that he left in 2015 upon tighter control by Beijing — sales across industries, even those thought to be insulated from any slowdown, are falling, and the economic outlook among Chinese consumers is so dire that executives are reporting blatant acts of theft by employees.


"Several things have shocked me in conversations I've had with businesspeople in China," he said. "A big dairy company is producing more milk powder because people are cutting back on buying milk. Normally this is one of the last things you would cut out."


Read More: https://markets.businessinsider.com/news/currencies/china-economic-recovery-downturn-foreigners-covid-globalization-decoupling-derisking-property-2023-7

[Kamaji]

Time to start turning the screws economically.

[DefiantMassRINO]

As their domestic problems increase they'll seek and redirect with matters of foreign affairs ... like repatriating Taiwan or asserting themselves miltarily in the South China Sea.

They'll blame all their domestic problems on the West to gin up support for hostilities.

[Kamaji]

As their domestic problems increase they'll seek and redirect with matters of foreign affairs ... like repatriating Taiwan or asserting themselves miltarily in the South China Sea.

They'll blame all their domestic problems on the West to gin up support for hostilities.

Maybe so, but they may also choose to engage in sabre-rattling exercises rather than a full blown invasion of Taiwan because they would know they don't have the economic capacity to back it up.  They'll instead go on another extended round of building artificial islands in the South China Sea and trying to lord it over any vessels that sail through that sea.

[kevindavis007]

Maybe so, but they may also choose to engage in sabre-rattling exercises rather than a full blown invasion of Taiwan because they would know they don't have the economic capacity to back it up.  They'll instead go on another extended round of building artificial islands in the South China Sea and trying to lord it over any vessels that sail through that sea.

I'm still thinking there is a 50% chance that China will invade Taiwan. If China does invade Taiwan, it will be the mother of all Turkey Shoots and the sharks are going to have field day.

[bigheadfred]

Time to start turning the screws economically.

That would take tightening the screws in Biden's head. Unfortunately they are stripped out and rattling around inside.

[Free Vulcan]

I'm still thinking there is a 50% chance that China will invade Taiwan. If China does invade Taiwan, it will be the mother of all Turkey Shoots and the sharks are going to have field day.

Not sure what we are going to shoot them with at this point, especially if we jump in and NATOize Ukraine. China understands that they don't have to outrun the bear, they just have to outrun us as they continue to do everything to weaken the US before they do a little Hitler-in-the-Sudetenland maneuver.

[Kamaji]

Not sure what we are going to shoot them with at this point, especially if we jump in and NATOize Ukraine. China understands that they don't have to outrun the bear, they just have to outrun us as they continue to do everything to weaken the US before they do a little Hitler-in-the-Sudetenland maneuver.

Uh, how about missiles and bombs, to begin with?  We aren't going to be getting into a massive artillery fight with China across the strait.

[Free Vulcan]

Uh, how about missiles and bombs, to begin with?  We aren't going to be getting into a massive artillery fight with China across the strait.

Do we have the inventory and will to use it, to turn them back if they decide to make The Move?

[Kamaji]

Do we have the inventory and will to use it, to turn them back if they decide to make The Move?

Since we haven't been providing Ukraine with aircraft-launched missiles, or our longer cruise missiles, we should have as many as we've always had.  Same thing for aircraft dropped bombs.

[Free Vulcan]

Since we haven't been providing Ukraine with aircraft-launched missiles, or our longer cruise missiles, we should have as many as we've always had.  Same thing for aircraft dropped bombs.

I hope. Whether they will able to be used depends on how China goes about it.

[DefiantMassRINO]

China won't "invade" Taiwan.  They will be "invited" to "help re-stablish order and rebuild" in the wake of unrest caused by some natural or contrived event.  Then, they'll never leave.

[sneakypete]

China won't "invade" Taiwan.  They will be "invited" to "help re-stablish order and rebuild" in the wake of unrest caused by some natural or contrived event.  Then, they'll never leave.

@DefiantMassRINO

Which is precisely WHY China has been infiltrating  communist agents into Taiwan for decades.

[libertybele]

@DefiantMassRINO

Which is precisely WHY China has been infiltrating  communist agents into Taiwan for decades.

We'll see.  They are becoming more desperate and the U.S. is very weak and vulnerable right now. Let's Go Brandon!!

[sneakypete]

We'll see.  They are becoming more desperate and the U.S. is very weak and vulnerable right now. Let's Go Brandon!!

@libertybele

Well,that may have been true 20 years ago,but these days most of the products the west buys today  was made in China by slave labor.

Hell,GM,for one,shipped a whole plant to China,and even sent along the engineers needed to show the Chinese how to set it up and get it manufacturing GM transmissions to ship to the US.

I have NO freaking idea why the Detroit unions allowed GM to get away with this unless a LOT of cash slid across the table while they were negotiating.

That is just one example.

I also know of a meat-packing  plant in northern Va that would bought by  the Chinese (Armour or Gwaltney,can't remembe  which at this late date),packed up,and shipped off to China maybe 10 years ago. I knew a guy that was one of the senior maintenance men there that the Chinese gave a 3 year contract to in order to get him to move to China to show them how to set the plant back up and get it operating,while teaching the Chinese how to maintain it. In addition to his travel expenses and salary,he lived rent-free and didn't have to pay any  taxes. Or at least that is what he told me.

Just HOW freaking stoopid do  you  have to be to take a three year contract to teach people how to take your job away from you for life,deprive your children of possible job opening there,and help destroy  your local economy while doing it?

[berdie]

Do we have the inventory and will to use it, to turn them back if they decide to make The Move?

The crux of the problem.