'Donald Trump’s trade plans could trash China’s economic growth over the next decade with such a powerful impact that he could prevent the 1.4 billion people in the world’s second-largest economy from joining the elite club of high-income nations . . . '
http://www.telegraph.co.uk/business/2017/02/18/trumps-trade-plans-could-knock-chinas-rise-riches-course/This is utter twaddle! For eight years, the talking heads have gone on and on about how China is shifting from exporting stuff to consuming it themselves. But at this point, their GDP is down 50% from when the GFC began, when newly-inaugurated President Obama assured us that China was the economic 'tractor' -- the
only tractor -- that could pull the global economy from the bog; and that 50% drop is only not a lot more because the Chinese went on a mega-looney debt spree: they're now crankin' out debt at a rate of something like
a $Tril a month.The fact is that China is past its prime, and its self-rescue through domestic middle-class consumption is no more likely than invasion by Martians.
And stay tuned, readers, for lots more It's-Trump's-fault! twaddle as the situation worsens. Anyone know who Donitz was? He was the schmuck who succeeded Hitler (for about three weeks, but got 'downsized' when the tanks bust thru the wall of his bunker . . . ). Well, Trump is the Twenty-First Century Donitz.
