Posted 4/4/2024, 9:07:11 AM
China's Economy Stalls Under Xi's Security-First Agenda
- China faces economic stagnation - growth fell to 5% in 2022 amid workforce shrinkage, property crisis, and global trade breakdown
- Xi's response is to invest heavily in "new productive forces" like EVs, biomanufacturing etc to make China self-sufficient
- But the plan neglects consumers, risks provoking trade barriers abroad, and alienates entrepreneurs - undermining innovation
- China could end up like 1990s Japan, caught in deflation and property crash, while wrecking international trade
- Xi prioritizes security over prosperity; China must prepare for struggle with America, even if it hurts economy