China’s communist dictator Xi Jinping has no idea how to fix his country’s youth unemployment problem or deflationary spiral, Breitbart Economics Editor John Carney told Fox Business host Larry Kudlow in a Thursday interview.
The topic of discussion was China’s deflationary problem, its plunging import and export numbers, and what all of this means for the rest of the world’s economies.
“China deflation — both the consumer prices and producer prices in China are falling. And what do you think that means for our prices and our economy?” Kudlow asked, adding that China’s economy right now is “terrible.”
“We’re already at $84 a barrel for oil,” Carney noted. “Gasoline prices are headed to $4. That’s with China being very slow. If China does start to stimulate its economy to fight this deflation, that’s going to end up pushing the price of oil up higher, pushing the price of gasoline up higher, [and] contributing to inflation here.”
Kudlow…
