Concerns are growing about the state of China's economy in 2024, with many citizens and observers noting a lack of confidence in spending and investment. The central issue appears to be the highly centralized power structure under Xi Jinping, making it taboo to express doubts or criticisms. This sentiment was echoed by The Economist, highlighting that ordinary Chinese citizens feel the country is drifting without direction. Additionally, Zanny Minton Beddoes, Editor-in-Chief of The Economist, remarked on the challenges for foreign investment in China, describing the situation as nearly uninvestable for outsiders, a "slight exaggeration". Despite these concerns, some experts believe the economic issues are fixable, attributing potential slowdowns to policy errors rather than inherent structural problems. China is still the 2nd fastest growing economy in the world. The National People’s Congress gathering has also shed light on the troubling state of China's politics and economy.
The gathering of China’s National People’s Congress reveals much about the woeful state of the country’s politics and economy https://t.co/bmefFPx52V 👇
China’s in a funk. Many people lack the confidence to spend or invest, and don’t quite understand what’s gone wrong. Senior officials cannot acknowledge this, because power is so centralised in one man. And doubting him is taboo https://t.co/JZle6Gs356 Illustration: Chloe Cushman https://t.co/cAbntGcRvN
China is in a funk. Many people lack the confidence to spend or invest, and do not quite understand what has gone wrong. Senior officials cannot acknowledge this, because power is so centralised in one man. And doubting him is taboo https://t.co/Dk63EwNmAu 👇
What’s wrong with China’s economy and can it be fixed? https://t.co/fEpHqsAQRs via @jdisis https://t.co/12o0XxD5zV
Weekend Long Read: The myriad problems facing China’s economy are all “fixable,” and a growth slowdown would be “a result of policy errors,” and not because “China must grow slowly,” Martin Wolf, the FT’s chief economics commentator, tells Caixin. https://t.co/TOu6X7aNug
Excellent deconstruction of the many tropes we get told about China's economic situation, by Warwick Powell, adjunct Professor at Australia's Queensland University. To sump up: - "China’s economy is weak and slowing": China is still the 2nd fastest growing economy in the world,… https://t.co/2JClZGcu9g
The Economist: "China is in a funk. Many people lack the confidence to spend or invest, and do not quite understand what has gone wrong…Lots of ordinary Chinese worry that the ship of state is drifting, rudderless." @DSORennie https://t.co/AwKg0MwqqX
What’s wrong with China’s economy and can it be fixed? https://t.co/d3Y4QSLDAu
The Economist Editor-in-Chief Zanny Minton Beddoes says that it's only a slight exaggeration to say that China has become uninvestable for outsiders. Watch "Wall Street Week" Fridays at 6p ET https://t.co/pFKgBJEHLw https://t.co/RGeUXP5etb
Lots of ordinary Chinese citizens worry that the ship of state is drifting, rudderless. But this cannot be admitted without seeming to doubt Xi Jinping, the great helmsman. In 2024, that is simply not allowed https://t.co/ZGIoyxkl6o 👇