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The Chinese economy: Troubled times ahead

First published: Council on Geostrategy 05/10/2022

There was a time when most people were in thrall to the resilience and dynamism of the economy of the People’s Republic of China (PRC), but times have changed and there is trouble ahead. Even though the PRC’s zero Covid-19 policies have undoubtedly accentuated economic stress and will probably be abandoned eventually, the PRC faces strong structural economic headwinds, many of which are systemic features, not easily fixable bugs. These include those arising from an overhang of excessive debt, a bust in the property market which has put almost 30% of annual Gross Domestic Product (GDP) at risk of stagnation for many years, and productivity and governance failings. Read on….