The Wall Street Journal reports that the “Chinese spy” balloon that President Joe Biden shot down with immense patriotic fanfare in February did not in fact transmit pictures or anything else to China.
If it was transmitting, I guess it’d be a lot easier to spot…
White House economists have been trying to excuse persistent U.S. inflation saying it is a global problem and inflation is worse elsewhere in the world. China’s inflation rate is 0.7% year on year.
And the risk to China is deflation, not disinflation like the West is facing
Financial media outlets stress how China’s GDP growth rate is lower than it used to be. China now estimates that its 2023 GDP growth will be 5-5.5%.