Instead of being 2023’s banner economy, China was relegated to the ranks of the also-rans. Rather than roaring back after the draconian Covid-Zero curbs were erased, the country's recovery quickly fizzled. Prospects for a significant improvement next year are limited in the absence of sweeping efforts to crank up growth — something President Xi Jinping appears reluctant to embrace. There are lessons for everyone in how this former juggernaut came down to earth.

While China’s sub-par rebound will constrain world growth, it doesn’t have to be a disaster. The languishing expansion requires a healthy rethink of the country’s role in global commerce — and what we expect of it. As disappointing as the year has been, Beijing may have done the world a favor. Problems have been building in China’s economy for years, even before the pandemic. But so great was its prior performance, so rapidly did it catapult other major economies, that a merely mediocre performance is a shock.

QOSHE - Tough Lessons From China’s Fizzled Recovery - Daniel Moss
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Tough Lessons From China’s Fizzled Recovery

5 1
27.12.2023

Instead of being 2023’s banner economy, China was relegated to the ranks of the also-rans. Rather than roaring back after the draconian Covid-Zero curbs were erased, the country's recovery quickly fizzled. Prospects for a significant improvement next........

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