China Q3 GDP: China’s economy is getting walloped by crises in energy, shipping and real estate – CNN

(CNN Business)China’s GDP is growing at the slowest pace in a year as a massive energy crunch, shipping disruptions and a deepening property crisis take their toll on the world’s second largest economy.

The real estate sector is also suffering from a government drive to curb excessive borrowing. Property investment is now falling. That’s placing strain on developers, not least Evergrande, whose debt crisis has triggered worries about the risk of contagion for the sector and the broader economy. Some other property firms have already indicated that they are struggling to pay their debts.

The triple threat of simultaneous crises in energy, shipping and the property sector is impossible to ignore.

China Q3 GDP: China’s economy is getting walloped by crises in energy, shipping and real estate – CNN

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China is full of ‘ghost cities’, and an entire economic global empire built on the quicksand of predatory capitalism. What could go wrong?