October 18, 2021
nATIONALISM ISN'T WORKING:
China's GDP data shows the damage to its economy from "black swan" events (Jane Li, 10/18/21 Quartz)
China's GDP grew 4.9% in the third quarter, the slowest pace in a year, as the country continues to grapple with a series of black swan events ranging from power shortages to a liquidity crunch amongst property developers.Year-on-year GDP growth for July to September was the slowest since the third quarter last year, when China's economy also expanded by 4.9%. It is worse than a 5.2% rate forecast by analysts polled by Reuters, and below the 18.3% and 7.9% growth in the first and second quarter, pointing to a continued decline.
Was anything ever more white swan?
Posted by Orrin Judd at October 18, 2021 12:00 AM