China doubling down on its overcapacity strategy, digging the economy into a deeper hole ...Middle East

This article is concerning, titled:China’s Real Economic Crisis - Why Beijing Won’t Give Up on a Failing ModelHere is the link. It's a long, long piece, but, in summary:China's economy is struggling despite the end of zero-COVID policies, with sluggish GDP growth and sagging consumer confidence.The main issue is structural overcapacity in many sectors, resulting from decades of prioritizing industrial production over consumption.This overcapacity is causing problems domestically (deflation risks, debt issues) and internationally (trade tensions due to flooding markets with cheap goods).The overcapacity stems from China's economic strategy that incentivizes local governments to invest heavily

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Last updated : 12 August 2024 clock 05:33 AM

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China doubling down on its overcapacity strategy, digging the economy into a deeper hole ...Middle East

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