Chinese officials suggest economy is on the verge of a collapse

Chinese officials are preparing the country’s citizens for an economic downturn, Breitbart News reports

Xi Jinping, the country’s dictator, did so during a recently-held party meeting in Beijing.

There, China’s state press agency reports Xi as calling “for resolve to undertake a great struggle with many new contemporary features, and readiness to work even harder toward the goal of rejuvenation.”

China’s top policy-making body, the Party’s Politburo, also met on Thursday. In that meeting, the Politburo is quoted as saying that China, in the second half of 2022, ought to “stabilize employment and prices, maintain economic operations within a reasonable range, and strive to achieve the best possible results.”

Background

None of this comes as much of a surprise.

Experts have been suggesting for some time that China is unlikely to meet its financial goals because of its iron-fisted approach to the coronavirus. The communist country, for example, shut down the entirety of Shangai – the second-largest economy in the world – from March 28 to June 1 simply to contain a local coronavirus outbreak.

We, here in America, are well aware of the financial implications of such lockdowns as we’ve been there and have done that.

China, though, has been trying to claim that it can have the best of all worlds: that it can maintain this “zero tolerance” coronavirus policy while also continuing to meet its financial goals. This, however, is not reality.

“A rapid economic slowdown”

For a communist country like China, just about everything revolves around the image that it is projecting to its citizenry and the rest of the world. 

It is for this reason that, as Reuters reports, Chinese officials have been slowly backing away from their 2022 goal of increasing the country’s GDP by 5.5%. Officials, for months now, have been saying such things as China will “strive to reach a relatively good level of economic development this year.”

The fact that China is now “calling for resolve to undertake a great struggle” suggests just how bad the situation really is.

One expert explained to Fox News, “China’s economy has been slowing for quite some time: What we’re witnessing now is a rapid economic slowdown.”

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