Posted 2/24/2024, 8:15:00 AM
China's Economic Woes Could Trigger Deflation Spiral in the West
- China's economy is struggling, consumers can't afford goods, and factories are overproducing
- Surplus Chinese goods will flood Western markets, causing prices to plummet
- Falling prices will thrill consumers initially but could spiral into deflation
- UK industries like steel and autos can't compete against cheap Chinese imports
- Deflation could trigger falling sales, business failures, job losses, and economic decline
