A few years ago, it was hard to imagine a situation where China would not surpass the United States and become the world's largest economy in the near future. Now, it is clear that this significant geopolitical event is almost certainly being postponed, and one can even envision scenarios where it may not happen at all. Chinese people are not spending money, businesses are not growing, and conflicts with the West are deterring foreign investors and trading partners. The previous growth recipes are no longer effective, and the range of new ones is severely limited.

This is bad news for both the authoritarian Xi and the Chinese people, accustomed to improving their living standards each year, as well as for the entire world, which is dependent on the Chinese economy, the second-largest after the USA. Let's delve into why China won't become a superpower in the near future.

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#china #economy #economics

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