I already wrote something on chinese situation, because there is a general thinking that there all is shining; now I would like to focus the attention on more precise figures to show “the other side of the moon”.
The real economy does not seem to be in a good shape
it is about the “unofficial” Minxin index of PMI and there is a “small” difference vs the official index; then, if you consider that the value 50 is the border between growth and recession…
Let’s go ahead. The crisis seems to be boomed in 2014, according to this figure
but if you add this other one
the whole global economy has been maintaned by the chinese over-investment up to 2008, while commodities started to go down since 2011. So, these movements were forecast indicators of the “bust” happened in 2014 but that was already signing in 2011: if China does not buy materials today, cannot produce product tomorrow.
It seems that the chinese problem is more serious than considered.
Finally, how are the rich people of which China is (or was?) full?
It seems that they are starting to suffer of “short arms” disease and they started to tighten the belts.
Maybe, (Houston) we have a problem…