China Braces for Further Economic Shockwaves

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Feature Article by Stephen Lendman
China Braces for Further Economic Shockwaves

by Stephen Lendman (stephenlendman.org – Home – Stephen Lendman)

For the past 40 years, China achieved sustained high-level economic growth, experiencing short-term bumps alone along the way.

On a purchase price basis, what a basket of goods costs compared to the US, China already is the world's largest economy, though not so far on a GDP basis.

Economic analysts call China's growth from 1979 to 2019 one of the greatest economic success achievements in modern times.

Initiated by Deng Xiaoping, he called the process "crossing the river by touching the stones" — aided by large-scale domestic and foreign investment, productivity gains, significant economic stimulus and expansive monetary policy.

Last August, Ellen Brown explained that "neoliberalism met its match in China (by) subsidiz(ing) worker costs (and) the costs of its businesses," adding:

Around 80% of ba
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