"In the first day of trading since Xi Jinping effectively secured ultimate power for life at the CCP 20th National Congress, Chinese stocks have crashed." Stocks had their worst day in Hong Kong since the 2008 financial meltdown and the Chinese yuan is now at a 14-year low.
"The Chinese stocks bloodbath came despite the Chinese National Bureau of Statistics releasing new data showing China's GDP grew 3.9 percent in the third quarter of 2022 (year-on-year)." So basically foreign investment is fleeing the country at the same time the "official" GDP numbers from the CCP say things are fine.
To paraphrase a popular Hong Kong saying, "Don't trust China's GDP numbers, Xi Jinping is asshole!"
Jack Ma could not be reached for comment.
No comments:
Post a Comment