Commentary / World Jul 19, 2023
Don’t write off China’s economic recovery
While China's post-pandemic economic recovery has so far lagged well behind expectations, a supportive policy package can go a long way toward changing that.
While China's post-pandemic economic recovery has so far lagged well behind expectations, a supportive policy package can go a long way toward changing that.
Instead of chasing rapid growth rates at a time when the world economy is sputtering, China is emphasizing job creation and macroeconomic stability.
Forced to stay at home by stringent "zero-COVID" lockdowns, Chinese stashed $3.9 trillion in bank deposits last year.
The Chinese government knows an overly strong stimulus would entail excessive monetary expansion and a surge in inflation.
In the years since COVID-19’s emergence, China has devised and implemented a highly effective disease-outbreak response system.
U.S. efforts to slow Beijing's ascension on the global stage will not have a lasting impact, let alone stop China’s economic and technological rise.
The heyday of globalization soon could be replaced by a post-pandemic era shaped by national-security concerns and border controls.
Many economists in the West did not see China's massive growth coming, and its influence is now becoming impossible to ignore.
In the last few years, the view of China as a strategic rival has taken over the American political mainstream, with leaders largely choosing confrontation over cooperation.
China has always been cautious about loosening family-planning rules. But, if it is to sustain its economic dynamism in the decades to come, it must work hard to expand its labor force.