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China: Gradually, now suddenly

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    • The pandemic is likely to spark the next stage of China’s regression towards mean global growth rates of 2 to 3 per cent.
    • The pandemic is likely to spark the next stage of China’s regression towards mean global growth rates of 2 to 3 per cent. Bloomberg

    Richard Yetsenga

    Published Sat, Jul 2, 2022 · 05:50 AM

    MUCH of the current China focus is on the economic challenges brought by the pandemic. We expect China to record growth near 5 per cent this year as restrictions ease and stimulus gains traction. But its structural shifts have fundamental and far-reaching implications.

    There are several instances of economies beset by apparent short-term shocks that ended up being lasting economic changes: Neither Australia after the 2000s boom nor Japan after its bubble burst in 1991 returned to previous rates of growth.

    The pandemic could well be such a catalyst for China.

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    China politicsChina economy

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