The Chinese economy is on the path of a sharp slowdown in the coming years as Beijing wrestles with the Evergrande debt crisis, an economic analyst warned, adding that the coming slump should serve as an awakening to the other parts of the globe.
The country’s shrinking economy, however, may not immediately be made apparent, said Leland Miller, the chief executive of economic forecasting firm China Beige Book International. With Chinese leader Xi Jinping’s anticipated third term and the Beijing Winter Olympics at stake, the regime will do its utmost to defer any politically damaging news until at least past the next year, he said.
