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Monday, June 24, 2024

Why Is Xi Not Fixing China’s Economy?

Why Is Xi Not Fixing China’s Economy?

Explanations from insiders range from ignorance to ideology.

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China’s economy is performing dreadfully. The post-pandemic bounce was far smaller and briefer than the Chinese government had anticipated. Despite recording a respectable, if diminished, official growth rate of 5.2 percent in 2023, the reality may have been much slower, with some analysts estimating growth was no more than 1-2 percent. Some indicators showed modest improvement in the first few months of 2024, but the economy still appears to be sputtering, with growth now highly dependent on exports.

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