There's an elephant in the China shop

China is losing market share rapidly as the US diversifies its supply chain. (Image: Getty)

Mon, 28 Aug 2023

It’s cyclical, analysts claimed in a recent BusinessDesk article, referring to China’s slowdown, which is now manifesting in commodity prices, particularly dairy.It’s not.You don't have to look too far to see secular problems.Commentators are referring to the three D’s: demographics (an ageing population and low birth rate), deflation and the need to deleverage. Monetary policy cannot simply reflate the Chinese economy, given high debt levels across several sectors and the need to deleverage. That would be akin...

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