Milton Ezrati is a contributing editor at The National Interest, an affiliate of the Center for the Study of Human Capital at the University at Buffalo (SUNY), and chief economist for Vested, a New York-based communications firm. Before joining Vested, he served as chief market strategist and economist for Lord, Abbett & Co. He also writes frequently for City Journal and blogs regularly for Forbes. His latest book is “Thirty Tomorrows: The Next Three Decades of Globalization, Demographics, and How We Will Live.”
Provincial and local governments across China are reducing growth expectations and slashing budgets, making it unlikely reality will meet Beijing’s 2026 target.
Because many rightly suspect the veracity of Beijing’s statistics, a look at local government announcements can shed new light on China’s weak economy.
Having acknowledged its need to correct the economy’s supply–demand imbalance, Beijing nonetheless has chosen policies that will exacerbate the problem.
Provincial and local governments across China are reducing growth expectations and slashing budgets, making it unlikely reality will meet Beijing’s 2026 target.
Because many rightly suspect the veracity of Beijing’s statistics, a look at local government announcements can shed new light on China’s weak economy.
Having acknowledged its need to correct the economy’s supply–demand imbalance, Beijing nonetheless has chosen policies that will exacerbate the problem.