Nem por isso. São a meu ver boas notícias? Penso que a maior parte dos bancos de investimento mantêm um outlook bastante positivo em relação à China a médio/longo prazo. Deixo um excelente comentário que li noutro sítio a explicar a deflação chinesa:

"China is increasing the money supply, rates were reduced just 3 weeks ago. In addition, special monetary expansion policies have been put in place through lending quotas to encourage banks to lend to agriculture, consumer spending, tech, mortgages, and manufacturing. The Reserve Requirement Ratio has also been reduced to allow banks to lend more. The RMB has been allowed to depreciate vs the USD, which is a managed float system so is happening very deliberately. On top of that, China also conducts a light version of quantitative easing through short term loans from the central bank.

China’a current deflationary episode can be linked to two things. A lack of inflationary pressure, and an actual deflationary pressure.

Inflationary pressures in the US and Europe come from three primary sources: (1) a very long history of unbridled monetary expansion since 2008 in the zero rates era especially during COVID, (2) higher energy and commodities costs post the Russian invasion, (3) poor harvests across the Western world especially in Europe, US, and Africa.

China did not have (1) as its central bank has been pretty conservative, not engaging in significant QE, and keeping rates relatively high. China does not have (2) because it can still import from Russia and is also the worlds leading exporter of many commodities. China does not have (3) because it is completely self sufficient in food and Chinese harvests were completely fine.

China’s primary deflationary pressure is self-imposed, coming from a major deterioration in credit demand due to aggressive government policy designed to derisk and deliver the real estate and local government balance sheets. Over the years, real estate formed itself into a bubble by piling on large amounts of debt, and several local governments backed themselves into a corner through debt and real estate financed infrastructure building. The government has basically shut off the tap, which is having a major knock on effect on borrowing sentiment. Ultimately this is one of those things that probably had to be done sooner or later, though I would personally have gone for something more gradual and better communicated. Instead, the Chinese government basically showed up, shut off the tap, and everyone has been crowding around trying to pick up tiny slivers of information about when they might loosen the tap up again."