One entrepreneur interviewed by The Wall Street Journal said that one of his businesses, a distributor for LED screens based in Shenzhen, is suffering from widening losses as overseas orders dry up, leading him to slash prices to compete for domestic clients. Having laid off more than 50 out of 120 staff since 2022, he said he is contemplating whether to shut the business this year.

[–] YoungBelden@hexbear.net 29 points 1 year ago

every accusation is an admission or whatever

like whenever the us economy is booming because line go up, all while a few million people are housing/food unstable

[–] zephyreks@lemmy.ca 14 points 1 year ago (2 children)

Except official data doesn't look good? They haven't gaslit shit, they've been reporting slowing growth, decreasing exports, and deflation.

WSJ literally wrote an article "this is what I think China will do and that's why China bad"

What the fuck kind of journalism is that?

[–] Commiejones@hexbear.net 23 points 1 year ago (1 children)

Official data looks good when you compare it with other large economies.

[–] Trudge@lemmygrad.ml 11 points 1 year ago

It's crazy how the real economy correlates with numbers in China. I'd love to live in a country like that.

[–] geikei@hexbear.net 21 points 1 year ago

Export decrese is in line with almost every other east asian country and its very much so a "western economies go into recession and import less" problem. Groth slowing to ~5% is in line with what everyone is expected and China doesnt sweat too much about it. Its pretty solid especially since its higher quality. Deflation is only a problem if it persists for a long time and if it actualy spans in various types of commodities. If you exclude energy and housing everything else shows small inflation in China still and the real estate sector is going through tough but needed restructuring and regulation periods since last year. Deflation introduced from that part of the economy is more or less a by product of them deleveraging the sector and bursting some bubbles