There haven't been many days in 2016, but every single one of them has been ugly for China's economy.

2016年还没过几天，但是每一天对于中国经济来说都是难看的一天。

It should surprise no one, then, that Wall Street's most lauded China analyst, Charlene Chu of Autonomous Research, has a dark outlook for the country's economy this year, especially its corporate sector.

这毫不令人吃惊，华尔街最负盛名的中国专家，自主研究所的Charlene Chu对于中国今年的经济展望持悲观态度，尤其是其企业部门这一块儿。

That is because a huge portion of it is drowning.

这是因为这一部门的大部分正在没落。

As the country transitions from an investment-based economy to one driven by consumer consumption, older growth drivers known as the secondary industry — think the property market and manufacturing — are becoming less profitable.

随着中国从投资拉动型经济向消费型经济转型，旧的增长动力，即第二产业——建筑业和制造业——越来越不赚钱了。

Hu Jin Tao 49 minutes ago
As an American with considerable experience in China I have a few points to make-

作为一个有丰富中国经验的美国人，我谈几点：

1. 不要低估中国人民吃苦的能力。中国人吃苦跟美国人发胖一样自然。在困难的日子里，他们忍受、容忍和坚持的能力令人钦佩。很多被宠坏的富二代没吃过真正的苦，这些人是少数。

2. The average Chinese family has pretty deep pockets. Middle class wages and living standards are ridiculously low by American standards. But the former is only part of the explanation for the latter. Another part of the equation is the Chinese propensity to save money. It's not just a habit, it's a cultural imperative. Most Chinese, especially those over 40, don't see the need for many things considered essentials to modern life. While the total amount a family saves may not be great, it represents a huge multiplication of annual income.

2. 平均来说中国家庭很有钱。中产的工资和生活标准比美国低多了。不过这只是原因之一。另一个原因是中国人倾向于存钱。这不只是一个习惯，这是一种文化。大多数中国人，特别是40岁以上的人，不觉得有必要买很多东西。也许一个家庭的储蓄算不了什么，但整体数额很大。

3. Family ties and family structure are considerably different and much stronger than in western countries. Families, extended families spanning two, three, even four generations pool resources in ways unimaginable in the USA. (This is one way corruption and graft are hidden from government: Boss Wang doesn't take a bribe, he just gives out a government contract to his good friend that hires Wang's brother who in turn pays his new boss's relatives from bribes he has extracted from any one he can squeeze.) When tough times hit (and China has seen tough times repeatedly in its history), the family pulls together. Those more financially successful share with the entire family to ensure everyone's well-being and survival. Older members will commit suicide to protect the assets of younger family members.

3. 家庭关系和结构与西方有很大差异，比西方国家紧密。家里两代、三、四代的人集中资源办事的方式在美国是难以想象的。（这也是一种贪污受贿的方式：王首长没有受贿，他只是把一项政府的合同给了他的好朋友，这个好朋友又聘请了王的兄弟，这个人又把贪来的钱再送给新老板的亲戚。）日子不好过了（中国的历史上发生过很多次），家庭成员团结起来，有钱的照顾没钱的。老人自杀来减轻年轻成员的负担。

4. Although I can't specifically address the suggestion that Chinese businesses are in hock over their heads, I can state that many things a Chinese family owns it really owns, even their dwelling. Mortgages have become more popular recently, but it wasn't long ago that FAMILIES paid cash for everything. A major purchase: car, house, TV, appliances, etc. is quite often bought without a credit card, bank financing, or borrowed money of any kind. The Chinese are savers; if they can't pay cash, they do without.

4. 尽管我对中国企业债台高筑的说法没什么可谈的，我可以说中国的家庭欠债不多。房产抵押贷款最近刚流行起来，但是不久之前，中国人买什么都付现金。买大件：车、房、电视、家电等等，经常是不用信用卡、银行贷款或者任何形式的借款。中国人如果现金买不起，他们就不买。

5. I've been reading about China's financial demise since the first time I went there in 2008. There has been upheaval, uncertainty, setback, etc., but things just keep chugging along. The mood today seems to be that 2015 was a tough year but things are turning around for a successful 2016. This is not just New Year's good wishes but a sincere sentiment by most Chinese I meet.

5. 我自从2008年去中国之后，一直读到中国的金融危机的文章。金融剧变、不确定性、倒退等等，但是中国的金融就这么维持下去了。现在的感觉是2015年很难，2016年会有转机。这不只是新年美好的愿望，我遇到的大多数中国人都真的这么想。

Human 4 hours ago
The false economy is fading. Can't be stated any easier. Imports / Exports have both come down and recession is inevitable. Wages for the average worker has gone up and the world will shift there focuses to cheaper labor in southern asia. The country will earn less money meaning that people will spend less and will start losing jobs as well. The future seems bleak at best for China right now and the investors better run out before it's too late.

虚假经济玩完了。不能说的更简单了。进出口都下降，衰退不可避免。人均工资上升，大企业转向劳动力更便宜的东南亚。中国的钱越来越少，民众消费越来越少，开始失业。目前看中国的前景黯淡，投资者赶紧跑

hx 39 minutes ago
Investors only run when they've found a new profiteering ground. India maybe next, as well as little VN, Cambodia, Laos,... but it'll take long for India to be profitable (it's been stagnant since UK gave it independence) and the others are too small, even in combination.

投资者只有在找到新的赚钱点才会跑。印度可能是下一个，还有越南、柬埔寨、老挝。。。但是印度要很久之后才赚钱（自从英国让印度独立之后，印度经济一直停滞），其他国家太小，加起来没中国大