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29-12-2023, 05:10 AM
https://www.businesstimes.com.sg/opinion...d-recovery
The economy was supposed to roar back this year, but festering problems caught up with it. The bigger shift has been in our own expectations of how well China can perform
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.
The economy was supposed to roar back this year, but festering problems caught up with it. The bigger shift has been in our own expectations of how well China can perform
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.
I, being poor, have only my dreams; I have spread my dreams under your feet; Tread softly because you tread on my dreams.
