Electricity production in China, a key indicator of economic growth, points to zero growth, author Gordon Chang told CNBC on Wednesday.
"By far the most reliable indicator of Chinese economic activity is the production of electricity. When you look at the April-through-July period, electricity production increased by less than an average of 1.2 percent
I will try to explain whats going in China
China decided two years ago it would put 25% of its businesses on the coast out of business
Because wages are too high there.
So new businesses in the interior are started with employees that have left the coast to return home
Money is available to national companies.
Businesses on coast going out of business
Lph serves interior so good.
Oil use will go up because China has a rising middle class
New interior jobs are keeping employment up
So China just does not need to stimulate
China cares more about employment than anything else
So there economy is fine and the world economy has effected the price they get
So businesses are not doing well but their population has jobs
China has cut business profit and keep jobs
Could we put them in charge hear?
Make people work
We are a socialist economy
You now what that will get us
US is about guaranteed benefits not land of opportunity
America new normal