Bill Mitchell

@mitchellvii ↗

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Last Checked July 10, 2019

Created

Fri May 24 12:23:45 +0000 2019

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Bill Mitchell @mitchellvii

The Chinese economy is one giant bubble, and a fragile one at that. While US Consumers purchase 80% of what we make here, the poor Chinese purchase a very small portion of what they make. We are self-sustaining, China is not. If they lose exports to the US, they could collapse. — PolitiTweet.org

Posted May 24, 2019 Hibernated

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Bill Mitchell @mitchellvii

China buys U.S. debt to support the value of the dollar. This is because China pegs its currency, the yuan, to the U.S. dollar. It devalues the currency when needed to keep its export prices competitive. https://t.co/vXFB7F8GrD — PolitiTweet.org

Posted May 24, 2019 Hibernated

Followed By

Bill Mitchell @mitchellvii

China has poured all of its government spending into propping up manufacturing for export. As a result, they never invested in a social safety net. This means their poor citizens must save most of what they make. This drives down domestic consumerism. China is very fragile. — PolitiTweet.org

Posted May 24, 2019 Hibernated