We must mobilize all our resources to defeat Putin

I continue full closure It had dire consequences, driving the Chinese economy into a free-fall since March. In April, the National Highway Index, which measures freight transport through China, was 70% of the level it was a year earlier. In Shanghai up 17 percent. With more than 80% of the total volume of road freight in China, these numbers point to a near-total collapse in domestic commercial shipments.

In addition, the Caixin Composite Index of SMEs, which uses data collected from nearly 400 companies to track private sector business trends in China, including sales, new orders, employment, inventory and prices, rose from 43.9 points in March at 37.2. If the PMI value is less than 50, then the economy is shrinking. The sharp decline in Chinese economic activity is bound to have global consequences, but the indicators, at least for now, are weak. These negative consequences will persist until Xi changes course, which she will never do, because she cannot admit wrongdoing. In addition to the real estate crisis, the damage will be so great that it will affect everywhere. With supply chains disrupted, global inflation risks turning into a global depression.

Reduce the risk

For the West, the dilemma with Russia is that the weaker Putin becomes, the more unpredictable he becomes. EU member states are feeling the pressure. They realize that Putin may not wait for them to develop alternative energy sources before turning off the gas taps himself, when that really hurts, as he did with Bulgaria, Poland and Finland.

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The REPowerEU program introduced last week reflects these concerns. German Chancellor Olaf Schulz is particularly concerned about the special agreements that Angela Merkel has made with Russia. Prime Minister Mario Draghi is more courageous, even if Italy’s dependence on gas is almost as high as Germany’s. Europe’s cohesion will be severely tested, but if it continues to work together, it can enhance energy security in Europe and Europe. Leadership on climate change.

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