China’s economy is in trouble. The juggernaut that once looked bound for global domination is slowing down — and not only in the short run.
The Chinese economy’s projected growth this year has slowed to about 3%, missing the government’s target of 5.5% by an embarrassingly wide margin.
After decades of galloping expansion, that would be the second-worst performance in more than 40 years. Only 2020, with its COVID-induced recession, was worse.
h/t CV
