China’s economic malaise

China – the “Workshop of the World” – is
facing an economic decline brought about
by multiple factors, such as a collapsing
housing market, depressed consumer
spending (leading to deflation) and a
cooling job market

ANNUAL CHANGE IN CHINA’S GDP (%)

16
14
12
10
8
6
4
2
0

98 2000 02 04 06 08 10 12 14 16 18 20 22 24 26

1997
9.2%

2007
14

2020
2.0%

2025
5.0%

Actual GDP

Chinese
government
target

Boom years:
Raised incomes
in China and
reshaped foreign
markets

Xi Jinping,
president
of China

30%
Decline in
house prices
since 2021
peak

Source: Bloomberg
Picture: Getty Images
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