China’s Economic Slump Is Here to Stay ...Middle East

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China’s Economic Slump Is Here to Stay
China is in the midst of a profound economic crisis. Growth rates are flagging as an unsustainable mountain of debt piles up; China’s debt-to-GDP ratio reached a record 288% in 2023. But even that eye-popping figure does not capture the uncomfortable fact that much of it was borrowed to buy assets that no longer yield enough income to repay the debt. This is especially true in the housing sector, where sales have fallen by a third since the pre-pandemic peak, and new construction is down 60%. This is one of the worst housing crashes in the world over the last three decades. [time-brightcove not-tgx=”true”] Many Western pundits and politicians view this crisis as a sign of the ban

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