China’s economy is doing badly. The party leadership does not tolerate criticism of its course, but is looking for ways out of the crisis. It could fail because of these five problems.
October 21, 2024, 6:01 am
21 comments
Summary Summarize
This is an experimental tool. The results may be incomplete, outdated or even incorrect.
China’s party leadership is responding to the ongoing economic crisis by eliminating critical economists like Zhu Hengpeng, who has questioned the state of the Chinese economy and party leader Xi Jinping‘s economic expertise. The party sets unrealistic growth targets, pumps money into the capital markets and struggles with structural problems such as weak domestic demand, over-indebted local governments, a real estate crisis, youth unemployment and trade conflicts. These factors could spell the end of China’s economic miracle as the population loses confidence in the country’s economic future.
Summy-Input
text_length: 9631
text_tokenized: 2671
Model Output
prompt_tokens: 2678
completion tokens: 191
total_tokens: 2869
China’s government no longer intends to achieve growth of more than five percent. But it will also narrowly miss this goal. © Kevin Frayer/Getty Images
What will China’s party leadership do if it can’t get a prolonged economic crisis under control? For example, this: It makes economists who point out the seriousness of the situation disappear. This is what happened to Zhu Hengpeng, deputy director of the Economic Institute of the Chinese Academy of Social Sciences. Back in April, Zhu is said to have made disparaging comments about the state of the Chinese economy and party leader Xi Jinping’s economic expertise in a private chat group. The scientist has not appeared publicly since then, and his academy no longer lists him as an employee. As Stalin once used to say: man gone, problem gone. At least for now.
