, Columnist
Investors Are Getting Xi’s New China Wrong ... Again
The economy is much healthier than its struggling property and tech sectors indicate. You just have to look.
Green shoots?
Photographer: Nelson Ching/Bloomberg
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Talk of China’s cratering economy and its grim future is obscuring a more nuanced shift that’s underway.
There’s no doubt headline data in recent months has been dismal. The country’s bread-and-butter exports have been weak as global demand wavers. Real estate, which once accounted for as much as a third of gross domestic product, remains a significant problem that Beijing is trying to address. President Xi Jinping’s insistence on Covid Zero — although now easing — got in the way of productivity.