“Deflation is a serious issue, I know the Chinese government doesn’t want me saying it, but it’s an issue that we need to be worried about,” Rein stressed.
- “I’ve been in China for 27 years, and this is probably the lowest confidence I’ve ever seen,” Shaun Rein, founder of the China Market Research Group, told CNBC Monday.
- He forecasts that China will experience “another 3-6 months minimum of a very painful economy.”
- The world’s second-largest economy has faced a slower-than-expected recovery in 2023 after exiting Covid-19 restrictions.
www.cnbc.com/2024/01/23/china-strategist-warns-of-deflation-and-rock-bottom-consumer-confidence.html
h/t New-Corgi-1685
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