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China Enters the Doom Loop
by Peter St. Onge SHTF Plan
This article was originally published by Peter St. Onge at The Mises Institute.
China’s authoritarian gerontocracy has built a Doom Loop with Chinese characteristics, with over half the economy now crashing.
Chinese exports are now plunging at the fastest pace since the covid lockdowns: Exports fell 14.5% on the year, driven by a 21% drop in exports to Europe and a 23% drop to the US.
Meanwhile, imports to China are also falling — 12.4% on the year — as shrinking manufacturing buys fewer inputs and households buy less.
In short, foreigners aren’t buying, and the Chinese aren’t spending either.