Has the Chinese economy reached the point of no return? Crunch time in China trying to fend off a recession.The United States has been in a recession since February 2022, helping to cause a global recession that includes China. As a matter of fact,the Chinese are experiencing a near collapse. Because of the constant lock downs in China caused by Covid-19 virus and a shrinking Wal-Mart trade, the nation has been painfully sliding into being a needy nation. The last lock down in China was in May 2022 in Shanghai. GDP growth has slowed down to 2-3% from 6% in 2019. Wal-Mart plays a major role in Chinese economy. Between 70-80% of merchandise in stores across our country stocked in Wal-Mart are made in China. But because of proven slave and forced labor of minority groups in China like the Uyghurs and Muslims, Wal-Mart is doing less business with China and more importing from India.Wal-Mart has tripled Indian made products in their stores. So buying less from China is helping pull their economy into a roaring recession. As we have discussed before we are seeing a GLOBAL recession that is and will continue to affect the national economy of the United States. Keep a cool head, prepare and have reserves of cash and supplies. Americans have weathered many horrific financial storms through out our history and we can survive this downfall as well.
Nancy Kemler
Roundup
Reader Comments(0)