There’s a lot of bad economic news coming out of China. While we continue to battle inflation, China is experiencing deflation. The real estate sector is in the tank. Property values are sinking fast. One claim I’ve seen is that Evergrande has liabilities over $1.5 trillion, but only $8 billion in liquidity, while Country Garden, China’s largest real estate company, missed two interest payments on its bonds earlier this week.

Then there’s this: rising unemployment among young Chinese. That’s okay—they can join the army and help invade Taiwan.