This article appeared online at TheNewAmerican.com on Monday, September 16, 2019:
New admissions from China’s National Bureau of Statistics (NBS) on Monday reveal continuing and accelerating weakness in the world’s second-largest economy. Heading into trade talks scheduled for October, such weakness further erodes the bargaining power of China’s communist negotiators in dealing with President Trump’s top people.
The report from the Chinese government’s economic mouthpiece was startlingly candid: The nation’s industrial production hit its lowest level in 17 and a half years, while retail sales, auto sales, and investment measures worsened as well. Industrial exports declined by 4.3 percent last month compared to a year ago. Factory output shrank for the fourth straight month.
China’s economy could be facing a “vicious cycle” of decline, said Li Wei, an economist at Standard Chartered Bank. He warned that