[New Tang Dynasty News, Beijing time, January 22, 2024]Recently, Chinese Premier Li Qiang boasted at the Economic Forum in Davos, Switzerland, that GDP grew by 5.2% last year. This statement caused international experts to question and accuse him of lying. Some articles point out that while Li Qiang is conducting “smile diplomacy”, the leader of the Communist Party of China, Xi Jinping, is strengthening the “two-handed strategy” domestically and continues to prepare for Operation Wolf Warrior, “hiding a knife behind a smile.”
On the morning of January 16, Li Qiang delivered a speech at the World Economic Forum 2024 Annual Meeting in Davos, Switzerland. He strongly touted the performance of China’s economy, predicting that China’s economic growth rate will be around 5.2% in 2023, exceeding the official target of 5%. He also said that “China is the most trustworthy.”
In fact, the outside world is generally not optimistic about China’s economy, and Li Qiang’s remarks were immediately questioned and ridiculed by public opinion.
Kyle Bass, founder of American hedge fund Hyman Capital Management, posted on social media Withdraw…” He described Li Qiang as the lying puppet Pinocchio.
The Rhodium Group, an American economic research institution, responded to Li Qiang’s data of 5.2% growth rate of China’s economy in 2023: “If you don’t look at the total GDP data, you will find that there are many smaller and more granular data sets for analysis. The teacher checks the authenticity of the numbers.”
According to a report on China’s economy released by Rhodium Group in December last year, China’s real estate industry is still shrinking, consumer spending is limited, trade surplus is declining, and local government finances have suffered heavy losses. China’s actual economic growth rate in 2023 is about is 1.5%. Rhodium Group also believes that China’s economy will also be very weak in 2022, with actual growth of only 0 to 2%.
TS Lombard, a world-renowned independent research institution, believes that China’s actual GDP growth rate in 2023 “may be as low as 3.6%.”
Li Qiang also said at the forum, “Currently, China’s middle-income group is about 400 million people. In the next ten years, the population of this group will double to 800 million people. There will be demand for more and more goods and services. There has been a change from the past to good or bad, and the momentum for consumption upgrading is very strong.”
On January 20, independent commentator and columnist Cai Shenkun published an article on the overseas X platform pointing out that Li Qiang told a huge lie! The prime minister of a big country completely ignores the economic fundamentals and talks nonsense on such an important international occasion, which is no less harmful than catching up with the Great Leap Forward era of England and the United States.
Cai Shenkun said, “Where did China’s 400 million middle class come from? In the next 10 years, 800 million people will enter the middle class? His predecessor Li Keqiang clearly said that at least 600 million Chinese people have a monthly income of less than 1,000 yuan, which is 150 US dollars. This income level is similar to that of Kenyans, while China’s middle class, that is, the group with spending power, does not exceed 100 million people at most, mainly managers and staff of state-owned enterprises and public institutions in the Party and government agencies of the Communist Party of China.”
“As the Prime Minister, I’m afraid he doesn’t even understand the concept and standards of the middle class. He thinks that he is middle class if he can solve the problem of food and clothing. Just like China announced to the world in 2020 that it will comprehensively eradicate poverty and enter a moderately prosperous society, the standard for comprehensive poverty alleviation is an annual income of more than 4,000 yuan. RMB, equivalent to 600 US dollars!”
On January 16, Xi Jinping delivered a special speech on financial development at the Party School of the Central Committee of the Communist Party of China. He continued to emphasize the “leadership of the Party”, reiterated that the CCP must develop a “financial development path with Chinese characteristics that is different from the Western financial model”, and emphasized that financial supervision must “grow teeth” Thorny”, “angular”, etc.
Wu Yijun, the founder of Jushi Think Tank, wrote an article in the Taiwanese media “Shangbao” on January 21. What makes international observers even more confused is that while Li Qiang is carrying out “smile diplomacy”, Xi Jinping is strengthening the “two-handed strategy” and continuing to prepare for Operation Wolf Warrior. A smile hides a knife.”
The British “Financial Times” reported on December 28, 2023 that at a time when the outside world is doubting Beijing’s determination to boost the weak economy, according to data from the Shanghai-Shenzhen-Hong Kong stock market trading interconnection, nearly 9% of foreign funds will flow into the Chinese stock market in 2023. Cheng (87%) chose to leave. Wu Yijun said that China’s economic outlook for 2024 will be dire. “One leaf can tell the autumn.” No matter how powerful Li Qiang’s battle in Davos is, he still cannot prescribe the right medicine, and the “money-attracting” effect may be in vain.
Wang He, an expert on China issues, recently wrote an article in The Epoch Times saying that anyone who believes in the CCP and believes that China’s economy will get out of trouble may be in trouble. For example, about 400,000 people in South Korea bought an ELS (equity-linked securities) product linked to the Hang Seng China Enterprises Index in Hong Kong, because the product said that if the Hang Seng China Enterprises Index in Hong Kong did not fall by more than 35%, it would “stablely close at 5%.” interest”. As a result, Hong Kong’s Hang Seng China Enterprises Index fell from 12,000 points to more than 5,000 points, and those who bought the product may lose their money. Under the rule of the CCP, anything impossible can happen. This is a lesson learned through the blood of countless people.
(Comprehensive reporting by reporter Tang Zheng/Editor in charge: Xia He)
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2024-01-22 09:09:05
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