Why China’s economy won’t be fixed

China's economy is struggling due to policy failures and bad decision-making, exacerbated by President Xi Jinping's centralization of power. Growth is slow, house prices have fallen, and consumer spending and business investment have fallen short.

August 24, 2023 . 6:23 PM

1 min read

China's economy is struggling and not recovering as expected after abandoning its 'zero-covid' policy.
Growth is slow, house prices have fallen, and consumer spending, business investment, and exports have all fallen short.
China's economic challenges stem from failures in economic policymaking, exacerbated by President Xi Jinping centralizing power.
Short-term growth is no longer the priority of the Chinese Communist Party (CCP), as it focuses on national greatness and security.
Policy failures and bad decision-making coincide with Xi's centralization of power and replacement of technocrats with loyalists.