Agnieszka Couderq | China’s problems, which would lead to the country’s collapse, are also happening in the West. If China were to collapse soon, it would not fall into the abyss on its own.
In a recent article on the Epoch Times website for Hong Kong, American journalist James Gorrie listed seven sins of the People’s Republic of China’s economy that experts believe will cause its demise. According to them, the process of decline has already begun, with signs including the bankruptcy in the US and the insolvency in China of one of the largest real estate developers in the world: China Evergrande Corporation. The economic consequences will be worldwide, and the political consequences will mean enormous problems for the Communist Party of China. World media reports numerous protests from deceived customers of the company.
When reading this article I got the feeling that all the problems mentioned were familiar to me from the West. If they want to bring down China, won’t they also bring about the downfall of the West? So let’s see how far the US and Poland, together with Europe, are from the brink beyond which the economic abyss awaits them.
The first sin: production inefficiency
Data is cited showing that the production of a given product in China requires ten times more raw materials than in the US. Therefore, the conclusion is drawn about the lack of efficiency of local production processes. I believe this to be true.
Source: Do Rzeczy
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
