, Columnist
Beware of Narrative Traps on US, China and BoJo
Tales of American exceptionalism and China’s post-Covid failings aren’t as strong as they first seem. Not to mention former national leaders making noise.
The picture in China may not be as bad as it looks.
Photographer: Raul Ariano/BloombergThis article is for subscribers only.
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The US economy has fared rather better than was expected at the turn of the year, while China’s rebound after the end of Covid Zero has been disappointing. These statements are hard to disagree with, and explain why US equities have performed far better than China’s since then, while the yuan has weakened against the dollar.