^ That's a dumbed-down version of what investors, forecasters, and (sadly) economists are saying about the People's Republic of China right now.
Don't worry, apes; the Western world doesn't get to hoard all the economic hardship of the globe right now. The globe's second-largest economy is getting in on the fun too!
Earlier this week, China published heavily anticipated macro data, with retail sales and industrial production in main focus. Spoiler alert: it was an absolute doozy.
Retail sales, for starters, tanked 5.9% in November vs. 2021's figures. If that's not already bad enough, consider the fact that analysts were calling for a fall of 3.7%. That's a surprise "beat(?)" of almost 60%.
Meanwhile, industrial production continued to grow, buoying hopes at least a little bit. The 2.2% growth registered for the same period was way off (63%) from the 3.6% that analysts at Reuters had predicted.
Fixed asset investment slowed at the same time, and the officials scheduled to give a press conference following this data dump decided to say, "yeah, f*ck that" only a day prior to the release. Largely, China's troubles can be boiled down to the common quote, "same sh*t, different day." Idk who coined it, but it sure comes in handy.
And that's because China, although being a drastically different, export-driven economy, doesn't exactly have a "get out of recession free card." Sure, they run things with a tight ship over there, but you can't just outrun shrinking global liquidity and general bad vibes.
Moreover, China has been dealing with its own issues. In addition to a sudden relaxation of years-old C-19 protocols, the real estate crisis across the nation, along with the crackdown on consumer technology, make the crown weigh heavy.
At the end of the day, it's just good to know that whatever happens, we're all in this together…right?
The big question: How will China and other emerging markets fare economically and in market performance compared to developed nations over the next year?
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