Tags: author | Chang | China | Economy

Author Gordon Chang: Wheels Are Coming Off China’s Economy

By    |   Wednesday, 21 Dec 2011 08:13 AM

Economic reports from China appear to support warnings issued by individuals such as Gordon Chang. Yahoo's Breakout says the author of "The Coming Collapse of China" and columnist at Forbes.com, has been sounding the alarm bells about China for years.

Chang continues to warn that trouble is brewing in the world's second-largest economy, and now point to data such as a lack of growth in electricity consumption, declining industrial orders, and flattening car sales.

Other sources have also been expressing concerns about signs of a slowdown in China.
________________________________________________________

Unthinkable ‘Death Cross’ Signal Haunts Investors

MarketWatch reports that “all three major U.S. indexes now are in Death Cross mode,” signaling a possible crash. Watch the Aftershock Video, Be prepared!

_________________________________________________________

Bloomberg reported that expansion slowed to 9.1 percent in the third quarter, the least in two years, after the government raised interest rates, tightened credit and expanded property-market curbs.

Housing transactions declined in 27 out of 35 cities during the week of Dec. 5-11, according to Soufun Holdings Ltd., the operator of the nation’s biggest real-estate website, Bloomberg added.

Reuters said copper slipped on Monday in thin trading as signs that the property market was cooling in top metals consumer China, worsening the outlook for industrial metals demand and weighing on market sentiment.

"Most of the big funds we saw were far more nervous about the outlook for China rather than Europe. Europe, to a certain extent, is already in the prices," said David Wilson, director of metals research and strategy at Citi according to Reuters.

Not only is China apparently facing problems within its borders, but it is expected to be especially hard hit by the economic downturn in Europe.

The government recently announced expectations of declining exports to the U.S. and EU next year.

"If you look at all the indicators, they all point down," Chang told Breakout.

That includes the China's normal iron-fisted control over dissent. Chang points out that the government has recently been unable to contain media reports or to stamp out protests which include insurrections, riots, and bombings.

"China has political paralysis right now," Chang told Breakout. 'This is a critical period for not only the economy but also for society."

© 2017 Newsmax Finance. All rights reserved.

 
1Like our page
2Share
StreetTalk
Economic reports from China appear to support warnings issued by individuals such as Gordon Chang. Yahoo's Breakout says the author of The Coming Collapse of China and columnist at Forbes.com, has been sounding the alarm bells about China for years. Chang continues to...
author,Chang,China,Economy
1810
2011-13-21
Wednesday, 21 Dec 2011 08:13 AM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved