Chinese Economy Now in Deep Peril

A man on a bicycle stands in front of an electronic board showing Shanghai stock index, Nikkei share price index, and Dow Jones Industrial Average outside a brokerage in Tokyo on Sept. 22, 2022. Kim Kyung-Hoon/Reuters

Commentary

At the beginning of the year, many economists had predicted that the COVID “great re-opening” of China would spur domestic spending and the consumer sector.