{"id":122077,"date":"2023-12-11T13:39:11","date_gmt":"2023-12-11T13:39:11","guid":{"rendered":"https:\/\/yourclomid.com\/?p=122077"},"modified":"2023-12-11T13:39:11","modified_gmt":"2023-12-11T13:39:11","slug":"more-massive-problems-for-chinas-economy-this-time-deflation-as-prices-crash","status":"publish","type":"post","link":"https:\/\/yourclomid.com\/world-news\/more-massive-problems-for-chinas-economy-this-time-deflation-as-prices-crash\/","title":{"rendered":"More massive problems for Chinas economy &#8211; this time deflation as prices crash"},"content":{"rendered":"<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/cdn.images.express.co.uk\/img\/dynamic\/78\/590x\/secondary\/property-market-china-5109374.jpg?r=1702300430491\"><\/p>\n<p>As Britain tries to lower its inflation, on the other side of the world, the world&#8217;s second largest ecomony is suffering a titanic shift in the economy leading staggering deflation.<\/p>\n<p>The Consumer Price Index for the far eastern powerhouse dropped by 0.5 percent in November which is reportedly the biggest single fall since the world was gripped by the COVID-19 pandemic.<\/p>\n<p>And in a worrying trend the rate of deflation has increased from the 0.3 percent in October according to Chinese authorities.<\/p>\n<p>In August China&#8217;s biggest property developer, Country Garden, reported an enormous loss of \u00a35.2billion as the overheated housing market bubble burst.<\/p>\n<p>At the same time the country&#8217;s government made the decision to suspend reporting of youth unemployment levels as the figure reached a record 20 percent.<\/p>\n<p> <strong> READ MORE&#8230; <\/strong> <strong>Hamas&#8217; chilling threat &#8216;no hostages will be returned alive&#8217; if &#8216;demands not met&#8217;<\/strong><\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/cdn.images.express.co.uk\/img\/dynamic\/78\/590x\/secondary\/china-leader-economy-5109381.jpg?r=1702300430589\"><\/p>\n<p>Analysts from the Citi banking group told CNN: &#8220;China\u2019s deflation situation is deepening with the triple whammy from domestic food prices, international oil price corrections and weak domestic demand.<\/p>\n<p>&#8220;Signs of price weakness are now spreading from goods to services.&#8221;<\/p>\n<p>According to the BBC, the downturn has also harmed foreign investment with a \u00a39.6billion deficit recorded this year for the first time since records began in 1998.<\/p>\n<p> <strong> Don&#8217;t miss&#8230; <\/strong> <br \/> <strong>Zelensky spotted in \u2018tense confrontation\u2019 with leader blocking Ukraine EU bid[LATEST] <\/strong> <br \/> <strong>Royal Navy warships surge across to Ukraine to reopen &#8216;vital export routes'[LATEST] <\/strong> <br \/> <strong>Beautiful European island loved by Brits with three world-beating beaches[LATEST] <\/strong><\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/cdn.images.express.co.uk\/img\/dynamic\/78\/590x\/secondary\/shanghai-china-economy-5109387.jpg?r=1702300430627\"><\/p>\n<ul>\n<li> <svg width=\"24\" height=\"24\" viewbox=\"0 0 24 24\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"> <g clip-path=\"url(#clip0_1078_5986)\"> <\/path> <\/path> <\/g> <defs> <clippath> <rect width=\"23.4329\" height=\"23.4329\" fill=\"white\" transform=\"translate(0 0.134262)\"><\/rect> <\/clippath> <\/defs> <\/svg> Support fearless journalism<\/li>\n<li> <svg width=\"24\" height=\"24\" viewbox=\"0 0 24 24\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"> <g clip-path=\"url(#clip0_1078_5986)\"> <\/path> <\/path> <\/g> <defs> <clippath> <rect width=\"23.4329\" height=\"23.4329\" fill=\"white\" transform=\"translate(0 0.134262)\"><\/rect> <\/clippath> <\/defs> <\/svg> Read The Daily Express online, advert free<\/li>\n<li> <svg width=\"24\" height=\"24\" viewbox=\"0 0 24 24\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"> <g clip-path=\"url(#clip0_1078_5986)\"> <\/path> <\/path> <\/g> <defs> <clippath> <rect width=\"23.4329\" height=\"23.4329\" fill=\"white\" transform=\"translate(0 0.134262)\"><\/rect> <\/clippath> <\/defs> <\/svg> Get super-fast page loading<\/li>\n<\/ul>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/cdn.images.express.co.uk\/img\/logo\/logo-premium-subscription.png\"><\/p>\n<p>This month credit ratings agency Moodys issued a warning downgrading its assesment of the ability of Chinese authorities to handle the country&#8217;s debt from stable to negative.<\/p>\n<p>A statement from China&#8217;s finance ministry said: &#8220;China&#8217;s macroeconomy continues to recover and high-quality development is steadily advancing.<\/p>\n<p>&#8220;It is unnecessary for Moody&#8217;s to worry about China&#8217;s economic growth prospects and fiscal sustainability.&#8221;<\/p>\n<p>In the last two months China&#8217;s President Xi Jinping has met with both President Biden in the US and with European Commission President Ursula von der Leyen in Beijing.<\/p>\n<p>Speaking after the meeting Ms von der Leyen said: \u201cChina is the EU\u2019s most important trading partner, but there are clear imbalances and differences that we must address.\u201d<\/p>\n<p>Source: <a href=\"https:\/\/www.express.co.uk\/news\/world\/1844285\/china-economy-deflation-prices-fall\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"mh-excerpt\"><p>As Britain tries to lower its inflation, on the other side of the world, the world&#8217;s second largest ecomony is suffering a titanic shift in <a class=\"mh-excerpt-more\" href=\"https:\/\/yourclomid.com\/world-news\/more-massive-problems-for-chinas-economy-this-time-deflation-as-prices-crash\/\" title=\"More massive problems for Chinas economy &#8211; this time deflation as prices crash\">[&#8230;]<\/a><\/p>\n<\/div>","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>More massive problems for Chinas economy - this time deflation as prices crash - yourclomid.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/yourclomid.com\/world-news\/more-massive-problems-for-chinas-economy-this-time-deflation-as-prices-crash\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"More massive problems for Chinas economy - this time deflation as prices crash - yourclomid.com\" \/>\n<meta property=\"og:description\" content=\"As Britain tries to lower its inflation, on the other side of the world, the world&#8217;s second largest ecomony is suffering a titanic shift in [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/yourclomid.com\/world-news\/more-massive-problems-for-chinas-economy-this-time-deflation-as-prices-crash\/\" \/>\n<meta property=\"og:site_name\" content=\"yourclomid.com\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-11T13:39:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cdn.images.express.co.uk\/img\/dynamic\/78\/590x\/secondary\/property-market-china-5109374.jpg?r=1702300430491\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/yourclomid.com\/world-news\/more-massive-problems-for-chinas-economy-this-time-deflation-as-prices-crash\/\",\"url\":\"https:\/\/yourclomid.com\/world-news\/more-massive-problems-for-chinas-economy-this-time-deflation-as-prices-crash\/\",\"name\":\"More massive problems for Chinas economy - this time deflation as prices crash - yourclomid.com\",\"isPartOf\":{\"@id\":\"https:\/\/yourclomid.com\/#website\"},\"datePublished\":\"2023-12-11T13:39:11+00:00\",\"dateModified\":\"2023-12-11T13:39:11+00:00\",\"author\":{\"@id\":\"https:\/\/yourclomid.com\/#\/schema\/person\/0f97729ba4f6c2af46dd5d5a27032cc9\"},\"breadcrumb\":{\"@id\":\"https:\/\/yourclomid.com\/world-news\/more-massive-problems-for-chinas-economy-this-time-deflation-as-prices-crash\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/yourclomid.com\/world-news\/more-massive-problems-for-chinas-economy-this-time-deflation-as-prices-crash\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/yourclomid.com\/world-news\/more-massive-problems-for-chinas-economy-this-time-deflation-as-prices-crash\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/yourclomid.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"World News\",\"item\":\"https:\/\/yourclomid.com\/category\/world-news\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"More massive problems for Chinas economy &#8211; 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