China's plan for a swift post-pandemic revival looks likely to be scuppered by a growing number of red flags, including deflation and sputtering growth.
Beijing finally curtailed three years of harsh zero-COVID lockdowns late last year, but its economy has subsequently run into significant turbulence that's sparking alarm across the world.
Taken alone, headline figures still suggest robust growth, with the country's Gross Domestic Product likely to rise 7.3% in the second quarter, according to a Reuters poll.
But because that's a year-on-year comparison, the bar for expansion is still low. In July 2022, the government was still taking a zero-tolerance approach to COVID-19, limiting the country's economic output.
Read More:
https://www.businessinsider.com/china-economy-crash-inflation-deflation-trade-exports-growth-global-recession-2023-7
