Posted 2/16/2024, 10:54:00 AM
China's Economy in Crisis as Prices Plummet, Markets Crash and Growth Falters
- Prices in China are falling at fastest rate in 15 years, leading to sharp drop in consumer spending
- Rapid deflation could "destroy" China's economy and lead to debt/deflation spiral
- Chinese stock market is in crisis as spooked foreign investors pull money out
- Xi Jinping's government struggling to control situation and economy
- Expert says China overtaking US economically now less certain/inevitable due to challenges