China’s central bank has cut one of its key interest rates for the second time in three months as the world’s second-largest economy struggles to bounce back from the pandemic.
The People’s Bank of China (PBOC) lowered its one-year loan prime rate to 3.45% from 3.55%. The country’s post-Covid recovery has been hit by a property crisis, falling exports and weak consumer spending.
In contrast, other major economies have raised rates to tackle high inflation.
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I hope that the impending collapse is enough to dislodge the CCP from their seat of power. China could be such a positive force in the world if it wasn’t controlled by maniacs.
Do you really think the government that emerges from the collapse of the communist party would be positive? If we look at the Soviet Union, it seems more likely that a collapse would lead to a worse, less representative, and more exploitative and violent regime to enter power, with even fewer checks on their power, as we’ve seen with the rise of the Russian Federation.
Russian Federation is a shadow of the horror that the Soviet Union was. I choose to believe that you simply don’t know enough about the facts of life in the USSR.
It won’t be. After the last few party conventions, it’s basically impossible to remove Xi from the dictator’s throne, let alone change the power structure that keeps the party apparatus in place.
You’re most likely right. Although, rules only work while people follow them. I’m normally against calling for revolutions, as I think they tend to destabilize the county to the point where it’s very easy for corruption to take control. However in countries like China, Russia, or Myanmar, the current power structure is so entombed in the foundation of those countries that there’s no real way out of that through the “legal process”. Also I just realized that all those countries had their own revolutions that placed the current tyrants into power.
I’m hoping that the people are able to see past their propaganda.
