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‘Saturation’ Now Economic Reality in China. But this is Worse - Wolf Richter -

Chinese Made Buicks in America? This is a great article which once again ties China's economic collapse
to its likely effect on the US economy! Of even more interest was your reference at the end to the
possibility of Chinese-made Buicks being sold in America. That would be yet another slap in the face to the US manufacturing base, after Ford and Oreos.

Also, the referenced article mentions that half of GM earnings are from China. I would assume then that the recent success of GM (and maybe other automakers) in an otherwise lackluster economy is due not only to subprime and extended term lending (itself a disaster waiting to happen), but also to an unrepeatable performance in a collapsing economy. Lets throw in a Chinese currency devaluation ? for the current quarter, and maybe they will get what they perhaps deserve.

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Beginning of the headline :Smartphones conquered even impoverished consumers in desperately poor countries, giving them access to things they couldn’t even imagine a few years ago. The devices and the activities they spawned have been one of the world’s growth engines. China’s consumers adopted them at stunning rates. But even that growth engine is slowing down on a global basis. And in China, it just skidded backwards into the ditch. Globally, smartphone sales in the second quarter rose 13.5% to 329.6 million units, the... Read More

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