China stands at the precipice of an imminent and severe economic collapse, while experts predict that the United States is likely to remain relatively insulated from its repercussions, as reported by Daily Express US.
President Xi Jinping's attempts to foster a robust post-Covid economic resurgence have been thwarted by a significant property crisis, plunging the Chinese economy into turmoil. Concurrently, Chinese exports are plummeting, and consumer spending is diminishing, all contributing to the unfolding crisis.
Hans Dau, President and CEO of the strategic consultancy firm Mitchell Madison Group, warns of an impending "crash" as China's economy falters. Dau asserts, "The China crash will happen and it's probably serious and long-term."
Fortunately, experts believe that the US is well-positioned to withstand the fallout. Dau adds, "North America is in a unique position to be almost totally independent of the rest of the world. Mexico and Canada both surpass China as the US's largest trading partners and US public opinion has turned extremely negative towards China - across the entire political spectrum."