China's Slowing Economy Casts Shadow over Global Growth as Xi Favors State-Led Policies over Stimulus

• China's economic growth is slowing due to structural barriers and unwillingness to take aggressive stimulus measures • Symptoms include slowing growth, low consumer confidence, high youth unemployment, falling foreign investment, aftermath of collapsed property bubble • Xi is prioritizing state-directed investment in manufacturing and industry over overall growth • China's continued economic slowdown will reduce global demand for commodities, leading to lower prices worldwide and slowing global growth • Belt-tightening unlikely to affect China's core priorities like industrial, military and social policies as well as overseas lending capacity