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submitted 11 months ago by MicroWave@lemmy.world to c/world@lemmy.world

China’s real estate market is in decline. Debt deflation hangs in the air. The country’s workforce is shrinking and GDP growth is trending downwards.

No wonder the International Monetary Fund at its recent shindig in Marrakech warned of slowing economic growth in the People’s Republic, raising the prospect of “Japanisation” – the prolonged economic and financial malaise that afflicted its once high-flying neighbour after an asset bubble imploded three decades ago.

The trouble is that China’s economic imbalances are far worse than Japan’s in 1990. And that’s before considering the ruinous economic consequences of President Xi Jinping’s autocratic rule.

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[-] utopiah@lemmy.world 1 points 11 months ago

I don't think that's a realistic comparison. Deflation is just about money whereas technology has actual usage and each iteration is more powerful. Money is exactly the same now and ever, a mean to exchange value.

this post was submitted on 22 Oct 2023
139 points (94.3% liked)

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