White House economic adviser Larry Kudlow has a dim view of China’s Economy at the present time. The actual word that he used in the interview was “collapsing.” Retain sales are down and the currency has dropped as well. Kudlow said that some businesses are leaving China and headed to the United States. Do the President’s tariffs have anything to do with it? Explore that and other thoughts here.
As Written and reported by and for Newsmax:
White House economic adviser Larry Kudlow says the Chinese economy “looks terrible.”
Asked by President Donald Trump to assess China’s prospects this week at a cabinet meeting, Kudlow asserted that “their economy is just heading south,” citing “the latest batch of numbers” from China’s markets.
“I’m not a China expert, although I’m boning up as fast as I can, I would just say right now their economy looks terrible,” the National Economic Council Director said.
Kudlow also said the latest data showed that “retail sales, business investment is collapsing.”
China’s economy decelerated from April through June as Beijing tightened credit policy to combat a big rise in debt. The International Monetary Fund expects Chinese growth to slow to 6.6 percent this year from 6.9 percent in 2017, the Associated Press reported.
“Right now, their economy looks terrible,” said Kudlow, who served as the Trump campaign’s senior economic adviser.
The Chinese currency has fallen more than 9 percent since mid-April.
“There may be some manipulation” in the currency and “investors are moving out of China because they don’t like the economy,” he added.
China has announced it has prepared a list of $60 billion worth of U.S. goods to hit with duties should the U.S. follow through on a plan to impose tariffs on an additional $200 billion of……..
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