China on the Edge of Recession - by Peter St Onge

China is on the edge of recession — excluding Covid, for the first time since 2008 — as new data showed all-important manufacturing contracted for the fourth month in a row with particular weakness in new orders.

In other words, what they’ve got is backlog, then it's a cliff.

Manufacturing makes up a third of China’s economy — much more than the US. While the collapse in China property — another third of China’s economy — is adding fuel to the fire.

via www.profstonge.com

Welp. Those darn centrally-planned economies. How is Argentina doing these days?