Beijing is seriously concerned about the Chinese economy
China’s leaders and economic policymakers – who have been optimistic and confident about the economy for years – are clearly spooked. Just two weeks ago, Chinese state media was happily insisting that the country was experiencing ‘stable economic growth’. China requires a major rethink when it comes to the economy, something which may be politically impossible for a Leninist government Yet in the last week, Beijing has announced and is expected to approve over £319 billion in new fiscal measures – the biggest monetary policy stimulus since the pandemic. The move is a clear acknowledgement that China has a weak economy with an array of systemic economic and social problems. In another
