Fortune - Nobel laureate Paul Krugman agrees Beijing is making too much stuff: 'The world will not accept everything China wants to export'
Fortune - Nobel laureate Paul Krugman agrees Beijing is making too much stuff: 'The world will not accept everything China wants to export'
China's economy suffers from "vastly inadequate" domestic spending, the Nobel Prize-winning economist said in a television interview.
China’s leaders are “bizarrely unwilling” to use more government spending to support consumer demand instead of production, according to Nobel laureate in economics Paul Krugman.
“The fact that we seem to have a complete lack of realism on the part of the Chinese is a threat to all of us,”
Krugman echoed criticism by U.S. economic officials including Treasury Secretary Janet Yellen that China can’t simply export its way out of trouble. The comments come amid renewed concern in the U.S. and Europe over what is viewed as Chinese overproduction and the dumping of heavily subsidized products overseas
China’s whole economic model is not sustainable because of “vastly inadequate” domestic spending and a lack of investment opportunities, he added. Beijing should be supporting demand not more production, he said.
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“The fact that we seem to have a complete lack of realism on the part of the Chinese is a threat to all of us,”
'Us' being used to mean neoliberal economists and the
system they've forced on the world.
"They're going to kill us all with their...cheap and abundant solar panels, EVs, high-speed rail, and cure for diabetes!"I'd love to see this guy try to explain how China is a threat to me personally lol
You see when the Chinese produce stuff cheaper and better than you do your boss is forced to lay you off or his profit margin might decrease .02 percent
Literally crying and pissing and farding rn
How dare they