Don't take my word for it. Here's Joe Brown from Heresy Financial channel giving his take on the current trouble with China's economy. He gives a good overview in this video. Much like the pandemic, this is another thing coming out of China whose contagion will spread around the world.
I'm not going to editorialize on this one, just give you links to several really smart people speaking on this subject in the last few days.
"Nightmare unfolds" Steven Van Metre looking into the Chinese economy, and the Evergrande bankruptcy
These are four really smart people on money and finances, all looking at the events of the last few days in China. The huge Chinese real estate developer, Evergrande, filed for Chapter 15 bankruptcy in Manhattan the other day, to try and get help dealing with its U.S. and world creditors. The Chinese yuan is sinking in value, as well. Their economy is slowing down dramatically. There will be effects of China's troubles hitting the U.S. economy and businesses soon.
I'm doing a lot of my writing on Substack these days, check it out:
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