China’s central bank has cut one of its key interest rates for the second time in three months as the world’s second-largest economy struggles to bounce back from the pandemic.
The People’s Bank of China (PBOC) lowered its one-year loan prime rate to 3.45% from 3.55%. The country’s post-Covid recovery has been hit by a property crisis, falling exports and weak consumer spending.
In contrast, other major economies have raised rates to tackle high inflation.
I hope that the impending collapse is enough to dislodge the CCP from their seat of power. China could be such a positive force in the world if it wasn’t controlled by maniacs.
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