Jim Rickards does a great job of explaining the fall of China. There is a way for the CCP to kick the can: war.
China has fallen victim to what economists call the middle-income trap. Economists consider a low-income country to have around $5,000 annual income per capita. Middle-income countries have between $8,000 and $15,000 annual income per capita. High-income countries begin at around $20,000 annual income per capita.
China’s per capita annual income is $12,970 — solidly in the middle income category. By the way, in the U.S. it’s $75,180, among the highest in the world (second to Switzerland).
