Why China S Economy Is In Trouble And What It Means For You Business Economic And Financial News From The German Perspective Dw
But it’s not 2008, when China’s then-rapidly growing economy and a massive stimulus unleashed by the Beijing government helped Western countries recover much more quickly from the financial crisis. This time, China’s economic woes are deep. The government has abandoned this year’s target of 5.5 percent GDP growth, and Premier Li Keqiang warned last month that there was no appetite right now for more expansionary policymaking. Business and consumer activity in the world’s second-largest economy has been hampered by Beijing’s zero-covid-19 policy, which triggered months-long restrictions on workers in dozens of cities, forcing many businesses to close....