A shrinking population pushes Beijing on course for a future of ‘pedestrian’ growth
For decades, China’s growth stunned the world. The country’s transformation into the “workshop of the world” unlocked what has been dubbed an economic miracle.
Now, however, the clouds are gathering over the world’s second-largest economy.
For the first time in more than 60 years, China’s population is shrinking. Growth is slowing. Western investors, for years a source of capital for growth-hungry Chinese businesses, are shunning the country. China’s lucrative tech sector is stumbling. And a slow motion implosion is playing out in the country’s debt fuelled property sector, triggering billions in losses across the financial sector.
