[marianatom]

According to the office for national statistics in China, for jan/feb of 2023 http://www.ce.cn/xwzx/gnsz/gdxw/202303/27/t20230327_38464161..., car manufacturing profits is down 41%. non-metal products manufacturing profits is down 39%. chemicals manufacturing profits is down 56%. electronics manufacturing profits is down 71%!! In fact, all businesses have dropped 22% in profit. Not to mention the 1M+ SMB that failed in the last 2 years.

1 in 5 Young Chinese Is Jobless, and Millions More Are About to Graduate https://www.nytimes.com/2023/05/19/business/china-youth-unem...

China’s shipping containers pile up at overcrowded port as overseas orders dwindle https://www.scmp.com/economy/china-economy/article/3210870/c...

China to raise retirement age to deal with aging population https://www.reuters.com/world/china/china-raise-retirement-a...

Guizhou Province may become the first provincial government to go bankrupt in China. https://twitter.com/tankman2002/status/1646905359184044032?l...

[hnfong]

Intel's profit is down 100+%

US government is set to default on their debt.

US banks are failing left and right.

If you just take sensationalist headlines at face value you'd conclude that the US economy has already collapsed.

[geysersam]

Didn't profits boom during Covid? They have to come down as things normalize. Also, profit down 50% still means you're profitable so I wouldn't call that "collapse". The Chinese GDP is expected to grow by >5% this year.

The global economy is strained. But especially in Europe because of the shock of the Ukraine war.