The American economy is doing better at 1.5% growth. It is a more mature economy than Singapore, so 1.5% is as good as excellent. Some of the Asean economies are having 5% to 7% growth and are considered so so as they are developing economies.
The more horrifying economy in Asia is China. It is fumbling with only 6.8% growth. At the rate it is going China's economy will crash or go into recession in the view of all the western analysts and anti China reporters. That is how bad the Chinese economy is growing, only 6.8%. If only China is growing at 1.5% or 2.5% maybe the western analsyts would then conclude that the Chinese economy is sound and as good as the American’s and better than no growth Europe, and sustainable.
China is a third world country so it is natural to have high growth rate. But falling from two digit growth to 6.8% is really bad. Never mind if it is the second largest economy in the world. Never mind if the IMF or World Bank has elevated the Chinese economy to the top spot in terms of purchasing power. China is a developing economy, a third world country. Nevermind that this third world country is sending out more than 100 million tourists travelling around the world and reputed to be big spenders picking up expensive branded goods like toys. How could a third world country send out 100m rich tourists annually to travel around the world is really puzzling.
What does a 6.8% growth mean to a US$13 trillion economy? A 10% growth would mean a growth of US$1.3 trillion annually. A 6.8% growth would mean the economy grows by US$900 billion annually. Just to compare for size, Singapore's economy is around $400 billion. This means the Chinese economy is growing two Singapore's economy every year. And that is bad, terribly bad. Got it?
There are countries that are in the third world but kept bragging about being in the first world or coming soon. There are countries that are already in the first world but refused to be so labelled and insisted to be developing countries. Is China a fumbling third world developing country and heading towards destruction and oblivion with a 6.8% growth? Even at 6% growth, China will be growing like US$700 billion annually. Is that bad, really bad, really in trouble? Don’t try to think if you can’t.
6.8% bad, 2.5% good, 1.5% excellent!
Stupidity has no cure. Ignorance is no blessing.
The Chinese economy is crashing, crashing, is crashing….The world is coming to an end, the end is near, believe me.