What is the main problem with economic growth in China?

The world’s second-largest economy is facing several major challenges, including the China Evergrande Group debt crisis, ongoing supply chain delays and a critical electricity crunch, which sent factory output to its weakest since early 2020, when heavy COVID-19 curbs were in place.

Why does China have a bad environment?

As the world’s largest source of greenhouse gas emissions in recent years, China suffers from notoriously bad air pollution. Its carbon-intensive industries have caused additional environmental challenges, including water scarcity and soil contamination.

Is this the most challenging economic environment China has ever faced?

But clearly this time it’s different: no target – so there’s no getting away from the fact that the current economic environment is the most challenging China has faced in recent years. Indeed, China has been through difficult economic periods before – the 1990s, for instance, saw huge numbers of people laid off.

Why is the comparison between China and Japan so inaccurate?

While people like to draw the parallel between China today and Japan a few decades ago, the analogy is inaccurate first and foremost because they are/were in very different stages of development. Even before WWII, Japan was already an advanced economy, and had high labour productivity and solid institutions.

Can China’s economic data be trusted?

While economists say China’s economic data can’t always be trusted, they now have a new dilemma – there is no data. On Friday, China said it wouldn’t be setting a target for economic growth for this year. That’s unprecedented – the Chinese government hasn’t done this since it began publishing such goals in 1990.

Is China facing an economic crisis?

Indeed, China has been through difficult economic periods before – the 1990s, for instance, saw huge numbers of people laid off. The economy at the time was dominated by state-owned enterprises – they provided jobs for the bulk of the working population.

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