
Episode 13: Weekly Update 07.17.2023
Peter St Onge Podcast
The Chinese Economy and the Recession
Chinese consumers aren't buying, while worldwide recession is hitting both commodity prices and exports. The larger background is that China's COVID shutdowns were savage. This meant that when the Chinese economy finally reopened, hundreds of thousands of small businesses were gone. So basically an intensified version of what we have in the US, where mom and pops were forced to shut down while Walmart could keep running.
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