China.

 China set to trigger global meltdown – ‘we’re ignoring the biggest story in the world’.

Beijing's economy is falling into a death spiral and could soon drag us all down. 

Yet we're pretending nothing is happening.

By HARVEY JONES

08:41, Tue, Sep 10, 2024 | UPDATED: 10:45, Tue, Sep 10, 202

The world's second-biggest economy could drag us all down (Image: Getty)

China is the world’s second-biggest economy, after growing at breakneck speed for decades. Yet now it's in deep trouble and authoritarian leader Premier Xi Jinping can't save it.

The Chinese economy is on the brink. Given its size, that's not just a problem for the country's population of 1.4billion, but everyone in the world.

Spencer Hakimian, founder of Tolou Capital Management, says we need to wake up to the sheer scale of the threat. "The biggest story in the world right now is China," he said. "Everything else is secondary.”

He added: "The last time China was deflating this hard, it was 3% of global GDP. Now it is 20%." His conclusion: "This cannot be ignored or discounted."

China has so many problems, it's hard to know where to start. Express.