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New Omicron coronavirus outbreaks in the context of Covid-zero policy, the housing slump and heat waves have been holding up the pace of the Chinese economy. China’s current growth slowdown is an additional step in the trajectory of gradually declining rates that has accompanied the “great rebalancing” since the beginning of the 2010s. One major difference now is the perception of exhaustion of waves of overinvestment in real estate and infrastructure as a lever, as compared to three previous moments since the beginning of the last decade. ....
New Omicron outbreaks in the context of Covid-zero policy, the housing slump, and heat waves have been holding up the pace of the Chinese economy. Click here to read more. ....