China Officials Warn of Global Financial Crisis

Yikes!

Justice League

Chinese officials predict economic turmoil for the global economy.  State Councillor Yang Jiechi told G-20 representatives in Beijing that recent volatility and “constant changes and intense transformations” will lead to unprecedented challenges to the world.  “It is not possible to completely discard the possibility that an economic crisis could once again take place, and the problem should not be neglected,” he said in the meeting, adding “preventing or reducing negative effects from countries’ domestic policy measures is a pressing task.”

A China Problem?

A growing number of analysts are fearful that a new economic downturn may gin, not because of a drag from the United States, but from disappointment in China. Prior to Yang’s comments, data from China’s 2015 two-way trade report showed that the country’s trade had fallen 8 percent on a year-over-year basis to $3.96 trillion, far below the 6 percent growth that the government had hoped for.

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3 thoughts on “China Officials Warn of Global Financial Crisis

  1. http://www.nytimes.com/2016/01/16/business/walmart-to-close-269-stores.html
    Costco has closed down a big warehouse here in Auburn and is cutting the fat from where ever they can keeping only money making facilities. A local company out of Bellingham Washington just purchased masses Top Foods just to file BK. http://www.haggen.com/haggen-files-chapter-11-bankruptcy/
    Two companies purchasing from my son just closed down the US stores and are keeping the Canadian stores. A customer of mine just paid of her huge commercial building but cannot meet paychecks. So working by herself now. Businesses are shutting down constantly . One of the oldest stores selling high end clothes here to the wealthy for at least over two generations, just shut down in down town Auburn.

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