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Comment by threeseed | Hacker News Reader

> From where I am sitting it looks like China keeps growing while the US declines

That just sounds like you're ignorant about what is happening in China.

The economy is in perilous shape after they allowed a completely unregulated financial sector to finance the property sector. Now there are major contagion fears as well as what the impact to consumers will be given 70% of household wealth comes from property.

Combined with a very low birth rate, rapid ageing and decreasing manufacturing competitiveness due to high costs the country is in serious trouble. Far worse than the US.

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> The economy is in perilous shape

I've heard their economy is in perilous shape for years now. The people speaking of the 'coming collapse of china's economy' seem just like perma-bears here.

These assumptions have shown to be wrong, time and time again, but surely the collapse is coming right, if we believe hard enough?

Agreed. I think there’s a lot of people in the US that want to hear stories of China's failure, so the stories are written. Even if they do have a recession, that’s not the end of the world for any other major power it won’t be for China either.

And how many times has the US economy faltered? Most recently 2000, 2008, 2020. And yet we’re “doing fine” but when China’s economy has trouble it’s somehow a sign of China’s failure. I think western reports of China’s failure sell newspapers, but China’s done pretty well for itself the last 20 years. I suspect they will navigate through this recession no worse than western powers have time and time again. According to Wikipedia the US has had as many as 48 recessions. That’s not what led to our present stagnation.

Irresponsible financial sector constantly crashing the economy with their unbacked loans? Insufficient birth rates causing devastating demographical changes in nations, from young economically active workers into retired geriatric population which demands extremely costly healthcare and welfare? The inevitable mass immigration that supposedly solves the demographic problem but ends up creating numerous new ones?

Am I reading this right? By that logic the entire western developed world has been dead and buried for a long time now.

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