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It’s official: The era of China’s global dominance is over
(www.businessinsider.com)
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this post was submitted on 16 Oct 2023
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Funny how you considered it fundamentally flawed for having problems after 40 years of continuous growth, when we in the west have regular "corrections" generally every 10 years. Some of them major like the .com bubble and the financial crisis.
How exactly do you measure that for an economy that has increased about 50 fold over 40 years? Obviously the growth in that sector would be enormous compared to anything previously seen. Yes it may have heated too much, but avoiding any serious turbulence for as long as they have, is still impressive by any standard.
They may experience a few years of turbulence now, probably because they never expected the decline resulting from COVID. But it's way to early to tell how they will manage. China probably has one of the most self sufficient economies in the world, I think that will make them less vulnerable than most countries.
This guy thinks an economy correcting itself is a bad thing