While all eyes are on Washington, Beijing is quietly heading into economic oblivion

Date:

As the world looks on entranced at the drama playing out in Washington, an equally significant but far less visible event has been unfolding in our very own time zone.

In Beijing, the all-important Third Plenum, a summit that takes place just twice a decade, has just concluded.

And what a contrast. While Americans have been subjected to a rhetoric-laden, chaotic and violent lead-in to this year’s election, China’s supreme rulers have just concluded the forum with a self-congratulatory memo that delivered a “highly positive assessment” about everything undertaken by President Xi Jinping.

Missing from the communique, however, was any real mention of the problems plaguing China’s economy, let alone any serious measures to alleviate them.

Growth is slowing at an alarming pace. The most recent figures, for the three months to the end of June, were the worst in five quarters while consumer prices again threaten to tip into negative territory.

Share post:

Popular

More like this
Related

Photo – Inter Milan & Argentina Megastar Hails Nerazzurri After Dream Win Vs Lazio: “Match At High Level”

Inter Milan dismantled fellow Serie A title rivals Lazio...

Ravichandran Ashwin’s retirement: Is India cricket team’s snub in Australia behind his decision? | Mint

Ravichandran Ashwin’s retirement from international cricket has left fans...

Michigan basketball loses 87-86 to Oklahoma on crushing 4-point play in Jumpman Invitational

The University of Michigan in Ann Arbor: Key factsExplore...

Suspect in killing of UnitedHealth executive to face federal charges, NYT reports

(Reuters) - Luigi Mangione, the suspect indicted on murder...