Chinese yawnulus same old, same old

Monday 2 June 2025

Chinese property is still stuffed.

Therefore, so too is Chinese consumer confidence.

Those arguing China will become a consumer economy are delusional. It’s all the same thing. They throw money into local government sinkholes.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.