Beijing is providing only stale solutions to the country's economic problems.
Chinese Premier Li Qiang gives a Special Address at the World Economic Forum Annual Meeting in Davos-Klosters, Switzerland, January 16, 2024. Credit: World Economic Forum/Faruk Pinjo via Flickr
China is at a critical juncture. Its deflation-prone debt-intensive economy is seriously underperforming. Its government has become embroiled in a major superpower conflict with the United States. And it is staring down the barrel of a demographic crisis. Worst of all, Chinese authorities are responding to these challenges more with ideology and stale tactics from the past, rather than with breakthrough reforms. Imaginative solutions to tough problems are in scarce supply.
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