C H I N A The country's economy has hit a wall, ending the longest running boom in history. Since the Party embraced western style market economic policies in the late 1970s, China has doubled the size of its economy every decade. Some 800 million Chinese have been lifted out of poverty. But China grew its gdp at 3 percent last year--dropping from 7.4 percent a decade earlier. It's partly a consequence of Xi's three-year "zero Covid" policy. There is a housing bubble in China, threatening the savings of millions of Chinese who invested in the real estate market. On top of its economic woes, Beijing is contending with a demographi...
Posts
Showing posts from September, 2023