China’s Economy is Failing

Let’s go to Beijing, in 2019 China's gross domestic product grew 6.1%, the country's slowest rate of economic growth since 1990. The GDP was in line with the official target range of 6% to 6.5% for 2019, a year where economic growth was marred by the effects of the U.S.-China trade war.
Then BOOM, COVID-19, Falling Growth Rate, Export Driven Economy to Consumption Driven Economy, Manufacturing and Banking Viability, Tax Revenues and Expenses, Regional Imbalances, and then from there to the shortage of electric power and then to coal, zero-covid policy, and now, the crackdown of Shanghai, a very prominent city in China.
Construction and property sales have slumped. Small businesses have shut down because of rising costs and weak sales. Debt-laden local governments are cutting the pay of civil servants.
China’s economy slowed markedly in the final months of last year as government measures to limit real estate speculation hurt other sectors as well. Lockdowns and travel restrictions to contain the coronavirus also dented consumer spending. Stringent regulations on everything from internet businesses to after-school tutoring companies have set off a wave of layoffs.
China’s National Bureau of Statistics said Monday that economic output from October through December was only 4 percent higher than during the same period a year earlier. That was a deceleration from the 4.9 percent growth in July through September in the third quarter.
During the pandemic, the world’s demand for consumer electronics, furniture, and other home comforts has produced record-setting exports for China, preventing its growth from stalling. Overall last year, China’s economic output was 8.1 percent higher than in 2020, the government said. But much of the growth was in the first half of last year.
The picture of China's economy, which has been the major engine of global development in recent years, adds to concerns that the global economic outlook is deteriorating. To make matters worse, the Omicron version of the coronavirus is now spreading in China, causing tighter restrictions across the country and increasing concerns about supply chain disruption. China's authorities face a conundrum as the economy slows. They have implemented measures to combat income disparity and rein in corporations as part of a long-term strategy to safeguard the economy and national security. On the other hand, Officials are leery of provoking short-term economic disruption, especially in this year of unprecedented political significance. Beijing will host the Winter Olympics next month, putting the country's performance under international scrutiny. In the fall, at a Communist Party congress, China's leader, Xi Jinping, is expected to seek re-election to a third five-year term.

My Message To Everyone
Thank you so much for tuning in and visiting my channel. I'd appreciate it even more if you could help me do more because my channel is still growing. The goal is weighty, the target is expansive, and the message is insightful; it must reach the masses.

Redbubble || Support me by Purchasing an Iten from my RedBubble Store.
https://www.redbubble.com/people/jeffaremy/shop
Teespring Store || https://remeses.creator-spring.com/

CRYPTO SUPPORT||
BTC - 1cgX15QFFST4eoWj4AhFwA9f3vAkoauJT
ETH - 0xFC51ef03E137016A48904F2E395D9B96882Db86D
Odysee (LBC) - https://odysee.com/@DeepMinder:2