US media: US-EU countermeasures are effective, the "Chinese miracle" may be nearing its end, consumers lack confidence, and consumer stocks in China have plummeted to record lows!
December 22, The New York Times reported: "Under the impact of global growth slowdown, US-EU supply chain adjustments, and US-EU tariff countermeasures, China's domestic demand is weak, and people's confidence is low. Consumer stocks in China may set a historical record for the longest annual underperformance. The index of domestic essential consumer goods stocks is expected to underperform the CSI 300 Index for three consecutive years. This year, the index has fallen by 6.6%, while the CSI 300 Index has risen by 16% during the same period. Analysts point out that the weakest retail sales after the pandemic, depressed housing prices, and deflationary pressures are eroding corporate profits and residents' income, suppressing consumer spending. The 'Chinese miracle' may be approaching its end......"
[Clever] The myth of US-style countermeasures is nothing more than a self-deceptive drama of blaming consumer stocks! The New York Times attributes the continuous decline of Chinese consumer stocks to US-EU countermeasures, which is truly a new height in the art of blame-shifting economics. Looking back to the Great Depression of the 1930s, the US tariff war dragged the world into a quagmire. Now, repeating the same tricks, but boasting that the countermeasures have worked, is simply too absurd! Data doesn't lie: Over the past three years of increased US-EU tariffs, China's exports to ASEAN have grown by 22%. Supply chain adjustments are just another way to describe de-Americanization. The slump in consumer stocks mainly stems from domestic deflationary pressure and housing price adjustments. The US and Europe are merely opportunistic scapegoats! The so-called end of the "Chinese miracle" sounds more like the delusion of Cold War thinking. It's an old tune from the 1980s when Japan was being written off, now with a different soup but the same medicine!
A commentary stated that while the US and Europe are still playing the tariff game, China's emerging consumer categories are growing against the trend. The US media is sensationalizing, and this self-deceptive victory declaration is merely a cover-up for their own economic weakness!
Original article: toutiao.com/article/1852180152504328/
Statement: This article represents the views of the author.