#china published its latest #cpi report over the weekend. It is offically deflating its economy, after a contraction in prices of 0.5% in November and 0.2% in October. Several issues are affecting China: the real estate sector, a key part of the economy is going through a crisis, with the biggest developers in default. Foreign direct investment into China is negative (-$12bn), as of the 3Q23, for the first time in the last 25 years, and exports, the other major engine of the economy are down both to the U.S. (-20%) and to the rest of the world (-5%) from the peak. Chinese officals are struggling when it comes to injecting stimuli in the economy to avoid losing control on the Yuan. In terms of economic growth, 4% is now discounted, which will affect global growth both directly and indirectly. China needs to heal its economy.
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Source: Trading economics
