Investment adviser Ed Dowd talks to host Steve Bannon about the unrest in China and potential impacts on the world economy. Dowd is forecasting a deep global recession in the first quarter of 2023.
“Debt to GDP … grew from 150 percent [in] 2008 up to 250 percent, and then 2020, that’s when Chine hit its demographic wall, meaning their population growth is in decline, and all that real estate debt, mal-investment debt started to come home to roost, and seriously in 2020 Covid hit mysteriously… They started to see all kinds of problems in their real estate sector, and then they increased after Covid their total debt to 300 percent of GDP…. What we have in China is an implosion.”
