CHINA in Deep Trouble as Profits & Steel Industry Crash, Unemployment, Deflation & Demand Concerns

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CHINA in Deep Trouble as Profits fall 20%, the Steel Industry Crashes, Youth Unemployment Soars, Deflation continues to restrict the ability to increase prices and Global Demand Concerns Rise. Following the removal of the COVID 19 restrictions 2023 looked like the year that the Chinese Economy would recover to full health however the results for April show that the Economy is UNDERPERFORMING. In this video I provide full details of the economic performance and discuss the potential impact on China and the Global Economy.

For specific details please check out the CHAPTER list below.

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Chapters:
0:00 Intro
1:13 PROFITS
2:59 STEEL PRODUCTION
4:42 CHINESE STEEL
7:24 UNEMPLOYMENT
10:35 INDUSTRIAL PRODUCTION
11:36 PMI
13:05 IMPORTS & EXPORTS
15:53 INFLATION
19:08 PRODUCER PRICES
20:26 REAL ESTATE
22:32 SUMMARY & CONCLUSION

#china
#india
#Belt&Road
#globalrecession
#globalfinancialcrisis
#russia
#Evergrande
#China
#Recession
#Zhenro
#Bonds

[Punkrockstarsure]

I had a talk with our suppliers and they said that they and others are now slowly moving production out from China, because of Covid lockdowns and now fears of problems with sanctions and they see China as an unreliable partner who put politics before business, and totally underestimate the mood in the West.

[larrylaird-sooy]

Couldn't happen to a nicer country

[GeoScorpion]

There are a ton of videos coming out of China showing the sudden weirdness of job interviews this past year, but a striking thing is that companies are refusing to hire people in their mid-thirties and older for labor jobs. THAT is starting to generate some blowback.

[simonmc]

They will prepare for war rather than admit their policies are wrong.

[rogerbeck]

I am very pleased/delighted that Joe is willing to produce this high quality, info and explanation, all of which I am blissfully ignorant.
Thank you Joe Blogs.

[harrymaciolek]

I like the way industrial production is up 5% while they close hundreds of factories.

[havencat]

here in UK we are happy and sunny now:)

[tychos]

Wait, wait. Steel is dirt cheap in china and they still don't use the proper grade and enough rebar for building projects? 😢 this is why i pass on chinese bids.

[oldguy]

There have been many videos claiming that the Chinese economy was in trouble. Thank you, Joe, for providing the detailed analysis and data to show why.

[andyyang]

It's important to remember how China calculates unemployment. Only people who are not employed, _but have been looking for a job in the past three months_, and can start work within two weeks if a suitable job is found, is considered "unemployed". Otherwise they're just not participating in the labor force.

In the context of youth unemployment, any youngster who decides to delay graduation, continue higher education (despite said education does not help in their career), or simply quit searching for a job for three months, are no longer in the job market, and therefore not "unemployed". It is easy to deduce that the percentage of youth not participating in the workforce is definitely higher than this 20.4% presented.

[dennisbohner]

Since we are dealing with a Unitary political system, another consideration needs to be addressed. When totalitarians run into problems domestically, they look beyond the borders to maintain their authority. Warring against 'others' is the quick solution to unite their people. (I.E., Russia's Invasion). That is the scary outcome for me.

[alang]

The steel industry globally, often led by Chinese steel, is a bell wether for the economy generally. Downturns in steel usually occur ahead more generalised economic downturns across all sectors. Also, the behaviour of Chinese steel producers during downturns also tend to corrupt domestic steel markets in other countries as dumped steel looks for new markets

[daviddesrosiers]

I see that the youth trend of "laying flat" is really taking off.

[daniell]

The figure showing Employed persons in China absolutely took my breath away. I've been vaguely aware that China's economy hasn't done well since easing Covid restrictions, but frankly now it just looks like the latest stage in a prolonged trend, since at least 2015. And I assume these are the official statistics from China, which are openly discussed as being "man made" and for reference only inside China, so the actual situation could be far worse.

[jamesgough]

It may be an "extremely worrying trend" for you Joe. I only have one word to say about this. Brilliant.

[sultankaftar]

As usual very informative and in details informations. Thank you 🙏

[anttiroppola]

Interesting times for Australia. Iron ore has been trading around three times long term average price on the back of Chinese demand.

[audience]

Do a video on how both China's population and GDP are not as great as claimed in official figures.

[gabrielh]

Great information, very balanced, to the point while well explained!

[annleland]

Very good video. Like to see more videos like this coming.