Comparing the China of today with the Japan of the 1990s won’t help fix the Chinese economy’s problems.
China's Premier Li Qiang delivers a speech during the opening ceremony of the China Development Forum at the Diaoyutai Guesthouse in Beijing, March 23, 2025. Credit: Adek Berry/Pool Photo via AP Images
One of the most popular frameworks for thinking about China’s economy today is the experience of Japan in the 1990s. The attraction is understandable. Property market activity in China has collapsed, prices across the economy are falling, and interest rates have dropped to record lows. All were features of Japan’s long malaise. But as much as China’s economy faces problems, it is unlikely that “Japanification” is one of them.
An excerpt from Bank of Japan Governor Kazuo Ueda's intro
Exclusive longform investigative journalism, Q&As, news and analysis, and data on Chinese business elites and corporations. We publish China scoops you won't find anywhere else.
A weekly curated reading list on China from Andrew Peaple.
A daily roundup of China finance, business and economics headlines.
We offer discounts for groups, institutions and students. Go to our Subscriptions page for details.
Walmart should be in trouble in China, where its competitors are in retreat and its sourcing operations have been criticised by both Beijing and Washington. But the American retailer seems to have found a way forward in a difficult sector and remains one of the biggest benefactors of China-U.S. trade.
The Commerce Department wants to expand export controls to majority-owned subsidiaries of Chinese companies. That could trigger cascading effects — and challenges.
Navigate China's Business Landscape with Confidence.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.OKPrivacy policy
