(ENG)China’s Economic Collapse: The Hidden Crisis Behind the Numbers

China's economic rise has long been hailed as one of the greatest success stories in modern history.

 

But beneath the surface, the foundations of this seemingly unstoppable growth are crumbling.

 

In recent years, mounting debt, overproduction, and unreliable economic data have painted a much bleaker picture than what is officially presented.

 

In this regard,

I introduce the program titled "China's Economic Collapse Is Worse Than Anyone Knows" from China Uncensored in October 2024.

Reference: Youtube channel "China Uncensored"

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1. China’s Economic Mismanagement (00:00 - 04:34):

The Chinese economy is in worse shape than reported, with misleading growth figures and a massive housing crisis. Youth unemployment is rising, consumer confidence is low, and official growth figures are considered unreliable, as they do not reflect the true state of the economy.

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2. Debt-Driven Growth (05:23 - 06:12):

China’s growth has been fueled by unsustainable debt, leading to overcapacity in sectors such as infrastructure, manufacturing, and housing. Debt levels are nearly three times the country's official GDP, creating long-term economic problems.

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3. Overproduction in Clean Tech (06:44 - 07:58):

China’s shift toward clean tech, including solar panels and electric vehicles, has led to overproduction and excess capacity. Local governments keep inefficient companies afloat with state funding, creating “zombie” firms that contribute to further waste and debt.

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4. Hidden Debt and Corruption (09:01 - 10:20):

Corruption and mismanagement are widespread in China’s innovation sector, with local governments borrowing heavily and raising funds through unofficial channels. The hidden debt is estimated to be around $11 trillion, approximately 60% of the total economy.

 

5. Censorship and Political Pressure (12:05 - 13:50):

The Chinese Communist Party (CCP) suppresses critical discussion of the economy, silencing economists and experts. Even pro-CCP figures face censorship if their commentary contradicts the official narrative, leading to a tense economic and political environment.

 

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China’s economic collapse is not a sudden event but a gradual unraveling of years of unsustainable policies and unchecked debt.

 

While the government continues to push optimistic growth figures, the underlying issues of debt, overproduction, and mismanagement are threatening to bring the entire system down.

 

As China faces increasing challenges both domestically and globally, it remains to be seen how long the facade of economic stability can be maintained.

 

The world must prepare for the potential ripple effects of China's economic downfall.