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A comment on China’s property giant Evergrande files for bankruptcy protection in Manhattan. Parent comment

Re:China’s property giant Evergrande files for bankruptcy pr... by eunos on Friday August 18, 2023 @04:58AM (#37172989)
> China stopped reporting youth unemployment, estimated around 20-50%

youth unemployment data is just another toxic data that rarely used before in China and others just like "Total Debt" metrics that only used against China for some reason.

> China's economy slipped into deflation

Mainly caused by normalizing pork price, last year it went wild due to swine flu.

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Re:China’s property giant Evergrande files for bankruptcy pr... by worrycue on Friday August 18, 2023 @05:43AM (#37173318)
> Mainly caused by normalizing pork price, last year it went wild due to swine flu.

Seriously? One food can cause the entire economy to slip into deflation?

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Re:China’s property giant Evergrande files for bankruptcy pr... by eunos on Friday August 18, 2023 @08:43AM (#37174869)
Pork price is a huge component of Chinese CPI. Also the price reductions were massive, like double digit huge.

https://www.cnbc.com/2023/08/09/china-reports-smaller-than-e...

"A 26% year-on-year drop in pork prices, a staple food in China, contributed to the overall decline in the CPI in July"

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