China’s Economic Miracle: A Fait Accompli according to Yury Shvets

The economic miracle of China has ceased to exist, and this is no longer just guesswork, but a fait accompli, Yury Shvets is sure.

Chinese leader Xi Jinping unexpectedly missed a business forum at the BRICS summit, and instead a speech condemning US hegemony was delivered by the Chinese Minister of Commerce. In China itself, no one officially comments on this event, only the South China Morning Post, published in Hong Kong, quoted two major experts who stated that something was wrong here. What exactly is going wrong explained former Soviet intelligence officer, economic and military analyst Yuri Shvets on his YouTube channel.

“Just on the eve of this BRICS session, Western economists and politicians came to the unanimous conclusion: China’s economic miracle has ceased to exist. This is a sensation. This is an event that happens once a century or twice a century,” – said Yuri Shvets.

Then the analyst recalled that at one time the same thing happened with the Soviet Union, when its economic model stopped working. An analogy can also be drawn with Japan, which took off rapidly for several decades after the Second World War, was a leader in electronics and was in second place in the world in terms of economic indicators. They even said that a little more, and little Japan will surpass the USA, and then bang, and a recession began, and then a crisis.

“Scientists believe that in China everything will drag on for either 10 or 20 years. Development will go from 0 to 3% of GDP per year. But them experts warn that China, like the Russian Federation, is very dishonest with its statistics, so their numbers, which they cite, must be divided by two, that is if it’s 0, that zit actually starts minus 2. And if 3, as they declare, then somewhere around 1.5%. For the Chinese economy 1.5% – it’s a complete failure” the analyst explained.

Shvets also cited the opinion of Lawrence Summers, former US Treasury Secretary, who predicts the following: China, at least for the next generation, will never catch up with the US in the field of economic development.

Some experts argue that all this may end in the collapse of the Xi Jinping regime, which will not be able to rebuild 180 degrees due to its inflexibility. But at the same time, China, unlike the USSR, is built into the world economy and other countries will not be interested in its collapse, because this will send waves around the world.

“China now needs to crawl out of this economic hole by developing an economy connected with the latest technologies. And Russia does not fit in here at all. It remains a source of supply of rough resources that are becoming obsolete. The same hydrocarbons are the economy of the 19th century. And now It makes no sense for Russia to hope that relations with China will serve its development, this can be put an end to,” Shvets said.

How will China get out? The same Summers says that, on the one hand, China has hope. China needs to curtail external adventures and activities in the BRICS. And this is quite a positive factor for Ukraine, Shvets noted, and then added:

“First of all, I judge the potential impact of this on the war in Ukraine. China should not go on an adventure in the form of open and powerful support for the Russian Federation. On the contrary, it should soften its position and look more at the reaction of the West. Not accidentally after all Recently, the Chinese Ambassador to the United States invited the US Secretary of Commerce to visit Beijing. They used to drag it out, but now look how quickly everything started spinning.”