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As China is a prodigious consumer of industrial commodities from crude oil to iron ore and copper, this casts a cloud on commodity-driven economies such as Brazil and Australia. Economies such as Taiwan and South Korea which thrive on feeding China’s industrial juggernaut, are already facing the heat. Given that China was expected to chip in with nearly a fourth of global growth and a sixth of all trade in the post-Covid world, this crisis spells trouble for global economic prospects. But with exports the only functioning growth engine now impacted by the global slowdown, China’s policymakers may not find it easy to revive animal spirits, especially after having engineered the slowdown in the first place. Some commentators believe that all these developments represent efforts by the Chinese leadership, ahead of the crucial 20th Congress of the Communist Party later this year, to showcase their seriousness in pursuing high-quality growth devoid of cronyism. To this volatile mix, geopolitical tensions over Taiwan have recently been added. With these curbs hitting local government revenues hard, they’ve scaled back on public services and infrastructure buildouts, for long the mainstay of China’s growth model. Technology and streaming platforms, earlier engines of growth, have also seen regulatory crack-downs. This came on top of Beijing’s three-red-lines policy which all but shut off credit to the real estate sector, triggered defaults by developers and mortgage strikes by homebuyers, forcing the property market into a decline. This has played havoc with China’s manufacturing output which has grown sub-4 per cent lately and dented consumer spending by 0.8 per cent in the last quarter. Even as most nations discarded lockdowns and turned to vaccinations to control Covid from 2021, China has inexplicably embraced a zero-Covid policy that has locked down its major industrial hubs and severed its connections with the rest of the world while the draconian quarantine rules have hit labour mobility. While the economic troubles at most countries were precipitated by external events such as Covid and the Russia-Ukraine war, the curious aspect of China’s slowdown is that it appears to be partly self-inflicted. The recent cut in interest rates by the Chinese central bank, even as other banks are on a tightening spree, has stoked fears that the pace of deceleration in China is acquiring a momentum of its own. The IMF has sharply trimmed its GDP growth forecasts for China to a 40-year low of 3.3 per cent in 2022 and 4.6 per cent in 2023. After a perfect storm of events, China announced a shocker of a GDP print for April-June 2022 with the economy expanding just 0.4 per cent compared to 4.8 per cent in January-March. But a crisis of equally serious and complex proportions seems to be unfolding in China. When you have finished making the moves, click the moved piece again, and the computer will start to take its turn.Lately, global economists and forecasters have trained their sights on the West to worry over the possibility of a US recession and stagflation in the Eurozone. The available spots for movement are highlighted in red when a marble is selected. Note that a piece cannot end its move on the 4 topmost rows of the bases other than its own or its target base, but can jump to it and jump out of it immediately.
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For instance, if no empty spot is located between the moving piece and the other piece, then the moving piece can be moved to the first empty space after the other piece on the same straight line and when an empty spot is located between the moving piece and the other piece, the jumping piece can be moved to the second empty space after the other piece on the same straight line. The distance of a jump depends on the number of empty spots between the moving piece and the target piece. During your turn, you can click to move one of your pieces to an adjacent empty space, or jump over other pieces for consecutive hops. You and the computer will take turns to make the moves. The 10 blue marbles on your side are placed in the blue area, while the 10 green pieces of the computer are located in the green base. When the game starts, you will be given a checkerboard in the shape of a hexagram, and the board is divided into 6 bases of different colors.
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Challenge your mind and try various strategies as you battle with the computer in this traditional board game! Your target is to move all your marbles to the enemy base before your opponent does so.
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