China's Economy

For John, BLUF:  The economy in China is being kept moving by stimulations.  Nothing to see here; just move along.

---

Did Democrats Take Control of China?

From VodkaPundit, by Blogger Stephen Green, 8:45 AM on 8 October 2024.

Here is the lede plus four:

Obamanomics — borrowed from FDR and since resurrected as Bidenomics — was the fine art of taking an economy that had been knocked on its back, firmly stepping on its throat with the jackboot of regulation, and bashing it repeatedly on the head with a giant sackful of money while shouting, "WHY WON'T YOU DO ANYTHING?"

While we're just four weeks out from learning whether Obamanomics will be rebranded once more as Kamalanomics, our friends in Communist China are learning the hard way what it's like to be ruled by truly ambitious Democrats. Or Communists. It's all so confusing sometimes.

The point is that China's massive economy has been flat on its back for a while now, thanks in no small part to strongman Xi Jinping's determination to restore Communist control. His severe COVID lockdowns only made things worse, convincing consumers that they'd better stuff all their money under the proverbial mattress.

This is where classic New Deal/Obamanomics comes in.

The New York Times breathlessly reported Monday that "China’s Policy Reversal Sparks ‘Mind Boggling’ Stock Rally." The report opened with, "Just a few weeks ago, many investors in China’s stock markets were ready to give up and eager to sell. Then late last month, traders rushed in to make bullish bets after the government’s leaders announced a series of steps to stimulate China’s faltering economy."

Then it fell and more stimulation is needed.

Is it possible that the economy in China is like the economy under Bidenomics?  At many levels no, but at some yes.  China is caught in an effort to be a capitalist society with Communist characteristics.  Perhaps the question is, how much freedom do people need to make a capitalist systaem work?

Hat tip to the InstaPundit.

Regards  —  Cliff