Export weakness is because the second and third China's export markets' economy are flat-line right now, if not going into some kind of recession later this year.
Chinese Economics Thread
- Thread starter Norfolk
- Start date
Well, expectation is low, I’d be happy with a solid 4.5% this year, have been saying this for a long time
Manufacturing PMI is not just exports though. I’m curious how much of this is export weakness vs weak demand in China. Yes the services sector grew but less than last month, indicating consumers are slowing their spending.
West is in recession. So what did you expect. German economy officially entered recession this quarter, and US economy is also in recession if you take inflation into consideration.
Compared to other export oriented economies like those of Japan, Germany, South Korea and Taiwan. China is doing quite well as those places are a total disaster.
There are both international and domestic reasons why China's economy is weak at the moment. Internationally global trade is slowing down and domestically there are deleveraging efforts underway in both the real estate sector and by the local governments.
Skills mismatch is the biggest reason why so many college graduates can't get a job. As more jobs that are created in advance manufacturing and services such as tourism and catering, many youngsters that want a desk job find out that they can't get one.
I feel this will push quite a few for graduate education in the Anglosphere lol
proelite
Junior Member
This is why the birth decline will be a demographic un-curse. The overall human labor market will shrink due to automation across all industries. Only your domestic SOEs will able to hire more people than needed since they don't have to be competitive globally.