Growth collapses. Exports are weakening. The real estate market is in danger of collapsing. Youth unemployment is reaching record levels. In short, China is facing a serious economic crisis. The ‘crown’ reveals the five reasons why the miraculous years in the Middle Kingdom are over.
The euphoria in the second largest economy in the world has completely evaporated. For the second year in a row, the Chinese economy is in danger of falling short of its modest growth target of five percent per year. However, Beijing is remarkably reluctant to take measures to stimulate growth. Instead, the Politburo in Beijing uses censorship and propaganda to paint a positive picture of the situation. With modest success: the uncertainty among the population is enormous, just like among business people.
Source: Krone
I am Wallace Jones, an experienced journalist. I specialize in writing for the world section of Today Times Live. With over a decade of experience, I have developed an eye for detail when it comes to reporting on local and global stories. My passion lies in uncovering the truth through my investigative skills and creating thought-provoking content that resonates with readers worldwide.
