LIVE FROM HONG KONG: 10 Reasons China’s Economy Is Crashing and Won’t Recover Anytime Soon
by Joe Hoft
TheGatewayPundit.com
February 19, 2020
China’s economy was slowing drastically last year before the coronavirus outbreak in Wuhan. There were multiple signs that China’s economy was in horrible shape, now they are glaring.
In December 2019 we reported you can feel it in Hong Kong. The economy is sluggish. We reported for months that President Trump had the US in the position that it could only win in a trade deal with China and he did.
We reported in a post in August 2019 that President Trump recognized that China is in an all out war with the US in regards to information and economics. For years Western leaders have done nothing but negotiate into weak positions, never standing up to the Communist regime. Former US Presidents treated China like they did Russia 50 years ago, as their superior always giving them what they wanted and never standing up to their abuse and criminal acts.
We posted a presentation in August 2019 from former Trump Chief Strategist Steve Bannon regarding China. He discussed how China is in an economic war with the US. He said America was losing until President Trump. Then he added this:
“Well here’s the game and right now we are converging on a point and they understand this. We could take the whole thing down. We can take, the whole thing’s built on a house of sand…
If they [China] devalue their currency they are just going to flood more out. They got $3 trillion of reserves and trust me, in a New York second that thing would flood out in a second. That’s what their own people think about their economy. We’ve allowed these guys to push us around. We’ve allowed these guys to take the South China Sea…
This trade war is going to end in victory and what you’re going to see is a reorientation of the entire supply chain out of China…
HERE ARE 10 REASONS CHINA’S ECONOMY HAS CRASHED AND MAY NOT MEND:
1. China over built real estate at levels worse than the US in 2008.
We reported in May 2019 that China’s current situation is very similar to the situation in the US that caused the ‘Great Recession’ memorialized in the movie ‘The Big Short’.
The Rest…HERE
