::"At no time in modern history has a large country gone all in on investment in high-end technology while also navigating a slowing economy and a local government debt crisis, notes Yuen Yuen Ang of Johns Hopkins University. Although the drag from the property crash will lessen over the next few years, and eventually disappear, it would not take much to choke the new growth engine. Itis already being stress-tested by weakening demand for Chinese evs, a prolonged trade war and an energy crisis. China’s paramount leader, Xi Jinping, is nevertheless betting that the new model of growth kicks in faster than the old one, driven by land sales and construction, collapses. It is a high-stakes gamble."[https://www.asiaglobalinstitute.hku.hk/news-post/china-innovative-its-economy-mess-which-will-win-out] | ::"At no time in modern history has a large country gone all in on investment in high-end technology while also navigating a slowing economy and a local government debt crisis, notes Yuen Yuen Ang of Johns Hopkins University. Although the drag from the property crash will lessen over the next few years, and eventually disappear, it would not take much to choke the new growth engine. Itis already being stress-tested by weakening demand for Chinese evs, a prolonged trade war and an energy crisis. China’s paramount leader, Xi Jinping, is nevertheless betting that the new model of growth kicks in faster than the old one, driven by land sales and construction, collapses. It is a high-stakes gamble."[https://www.asiaglobalinstitute.hku.hk/news-post/china-innovative-its-economy-mess-which-will-win-out] |