Why the West Shouldn't Celebrate Weaker Chinese Economy

The world’s second-largest economy is sputtering. China’s official 2023 growth rate of 5.2 percent (of which some are skeptical) is roughly half that of the pre-pandemic decade. Exports and imports are down and foreign investment into China fell by 8 percent. As Chatham House put it, “long term capital … seems to be voting with its feet.” Unemployment among China’s youth is so high that for a time the government stopped publishing the rate. The long-feared bursting of a real estate bubble and falling prices now spark worries of a slide into devastating deflation. Read Full Article »