The writer is author of ‘The Future of Money’
The Chinese economy has held up remarkably well through the pandemic but now faces a combination of waning growth and financial market volatility. This reflects a number of dilemmas that Beijing is grappling with, some of which are of its own making.
China’s government seems willing to tolerate lower short-term growth in the interest of securing long-term prosperity. This approach is well-intentioned, but the specific policies adopted risk creating more uncertainty and volatility, in turn eroding public support for the reforms needed to bolster long-term productivity and growth.
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