Drudge Retort: The Other Side of the News
Monday, September 16, 2019

China's slowdown is deepening just as risks for the global economy mount, piling pressure on the authorities to do more to support growth. Industrial output rose 4.4% from a year earlier in August, the lowest for a single month since 2002, while retail sales came in below expectations. Fixed-asset investment slowed to 5.5% in the first eight months, with the private sector lagging state investment for the 6th month.

The data add support to the argument that policy makers' efforts to brake the slowing economy aren't sufficient as the nation grapples with structural downward pressure at home, the risk of yet-higher tariffs on exports to the U.S. and now surging oil prices. Nomura International Ltd. said this all raises the likelihood that the People's Bank of China will cut its medium-term lending rate on Tuesday.

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Good job Trump!

#1 | Posted by boaz at 2019-09-16 10:16 AM | Reply

@#1

While you're cheering that Pres Trump is "hurting the right people" (to quote a supporter of Pres Trump), keep in mind that the United States represents somewhere around 25-30% of China's exports. It is also the global economic slowdown that is affecting China.

btw, so long as you seem to be in a cheering mood, are you also cheering for the people in the midwest who are having financial difficulties due to the trade war? Are you giving Pres Trump a "good job" cheer for that as well?

#2 | Posted by LampLighter at 2019-09-16 10:35 AM | Reply | Newsworthy 1

btw, so long as you seem to be in a cheering mood, are you also cheering for the people in the midwest who are having financial difficulties due to the trade war? Are you giving Pres Trump a "good job" cheer for that as well?

Actually, yes...

This is going to bring China to the table to renegotiate a correct deal, which will be even better for those people in the Midwest, as they were probably not being paid enough...

Forcing China to sign deals in the U.S.'s favor is going to be good for everyone..

#3 | Posted by boaz at 2019-09-16 10:45 AM | Reply

@#3 ... This is going to bring China to the table to renegotiate a correct deal ...

So long as the good people of the Midwest feel like soldiers in Pres Trump's trade war, and not victims of Pres Trump's trade war, your sentiment can hold true.

However, what is your definition of a "good deal?" What criteria will you use to determine if those criteria are met? How will it be "even better" for the people in the Midwest?

Pres Trump has been all over the place when he spoke of his goals regarding China's trade war. How will we know if he has even met all of his own goals?

We've already seen that Pres Trump's tweets calling something "great" is not a valid indication of success. Will it be like Pres Trump's son of NAFTA, i.e., he negotiates basically the same deal that was in place already, with some minor changes around the edges, and calls it great?

#4 | Posted by LampLighter at 2019-09-16 10:58 AM | Reply

However, what is your definition of a "good deal?" What criteria will you use to determine if those criteria are met? How will it be "even better" for the people in the Midwest?

If China thinks it's a bad deal, it's probably a good deal for us.

#5 | Posted by boaz at 2019-09-16 11:19 AM | Reply

@#5 ... If China thinks it's a bad deal, it's probably a good deal for us. ...

So, ya got nuthin'.

#6 | Posted by LampLighter at 2019-09-16 11:30 AM | Reply

So, ya got nuthin'.
#6 | POSTED BY LAMPLIGHTER

A logical inference isn't nothing .... in fact your post was "nothing"; but "its good till it isn't".

#7 | Posted by AndreaMackris at 2019-09-16 11:44 AM | Reply

@#7

So, ya got nuthin'.

#8 | Posted by LampLighter at 2019-09-16 01:27 PM | Reply

China economic slowdown sparks debate over what caused the slump, and how Beijing should intervene
www.scmp.com

...After China's economic slowdown grew more pronounced in August, analysts continued to debate how much of the blame rests with the trade war and how much is down to older, underlying issues in the Chinese economy....

While the trade war has been commonly blamed for a slowdown which also saw China's economy grow at its lowest rate on record in the second quarter of this year, others have pointed to challenges to growth that predate last July, when the first tariffs were enacted, such as the deleveraging campaign that started two years ago to reduce debt and risky lending.

...


#9 | Posted by LampLighter at 2019-09-16 04:34 PM | Reply | Newsworthy 1

btw, so long as you seem to be in a cheering mood, are you also cheering for the people in the midwest who are having financial difficulties due to the trade war? Are you giving Pres Trump a "good job" cheer for that as well?

#2 | Posted by LampLighter

Ever watch the ag station in tv? Look at all the latest and greatest equipment they have. Look at all the old antique tractors they have sitting in their yards. Hear them whine about the subsidy's they get. Poor farmers.

#10 | Posted by Sniper at 2019-09-16 05:40 PM | Reply

#9 | POSTED BY LAMPLIGHTER

As I have posted repeatedly - China's problems pre-dated Trump - the trade war is just the straw that broke the camel's back. Liberals seem to be under the foolish impression that Chinese banking and their economy is analogous to the West - it isn't. Their money printing is complete opaque and they have grown their economy via state funding for failing firms and bad investments. That is why the RMB WILL NEVER BE A RESERVE CURRENCY - No one in the world actually knows how much they have printed. However, we know that Chinese domestic demand is gone - as we see with EVERY major category of durable goods decrease (usually by double digits) in a country that is supposed to be growing out of middle income status - that simply does not happen.

The trade war made the Kubuki theater of their economic reporting impossible. They were dependent on FDI in manufacturing to justify huge state infrastructure projects - now FDI is dropping like a rock, existing manufacturers are leaving the country, and their existing infrastructure is under utilized making new spending a non-starter.

You couple this with the fact that China's only assets was cheap labor - they cannot feed their population, they lack natural resources, etc - and they were already set up for a collapse. Credible data already suggests that the size of their non-performing loans is equivalent to their entire GDP.

Thank you Trump for bringing this day on and protecting the US workers.

#11 | Posted by iragoldberg at 2019-09-16 08:26 PM | Reply

More grist for the mill:

www.thebalance.com

#12 | Posted by TrueBlue at 2019-09-17 04:46 AM | Reply

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