China's Fiscal Plan

Early in January 2021 Bolsonaro seemed to rule out the possibility of doing anything at all about these fiscal difficulties. Quizzed by a follower as to why he couldn’t follow through on promises made during his campaign,…

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And remember yet again the impact this hidden tax on savings has on the relationship between GDP growth and household income growth. By lowering borrowing costs substantially, it encourages investment primarily in real estate development, infrastructure building, and of course manufacturing capacity (in China there is very little consumer financing

If China exports less capital, its trade surplus will decline. This is an arithmetical necessity.

This will result in a continued downward pressure on consumption, making it hard for consumption growth in the next decade to outpace consumption growth in the past decade.

Vacancy rates in cities in China are already 27 percent from overbuilding and speculation. What happens if over 220 million of the unregistered leave? Overbuilt cities become ghost cities (like Ordos and many unoccupied cities that already exist) and real estate prices collapse 60 to 80 percent or more! Everyday Chinese save 50 percent and the top