China’s Crisis of Confidence

Summary

This article by Craig Singleton, writing for Foreign Policy, makes the following points:

• China’s economy, long in decline, is now in freefall—thanks to Chinese leader Xi Jinping’s mismanagement.
• There are strong indications that China has entered a prolonged era of slow growth and that China’s meteoric rise—fuelled by annual GDP growth above 6 per cent—now appears over.
• China’s fizzling economy may soon undercut the CCP’s ability to wage a sustained struggle for geostrategic dominance.
• This year, the U.S. economy is forecast to grow faster than China’s for the first time since 1976.

References

Recent Runway Posts related to this topic:

• China could end up debt-trapping itself with its $2.3 trillion gamble to revive its economy | The Runway (airforce.gov.au)  

References from the Web:

• MAR 2022  Revising Down The Rise Of China—Lowy Institute
• MAY 2022 ‘Do whatever it takes’: Beijing urged to act as China’s economy falters—The Guardian
• MAY 2022 How Xi Jinping is damaging China’s economy—The Economist

Source Information:

• Article Source: Foreign Policy
• Media Check: Foreign Policy - Media Bias Fact Check (mediabiasfactcheck.com)
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