OpinionThinking About China

China’s Economy: A Recurring Pattern of Defeat

China continues to face economic challenges, with Beijing responding inadequately to setbacks, leading to more bad news and insufficient policies.
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China’s Economy: A Recurring Pattern of Defeat
Migrant workers standing near signs advertising their skills as they wait by a street to be hired in Shenyang, in northeastern China's Liaoning Province, on Feb. 26, 2023. STR/AFP via Getty Images
Milton Ezrati
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Commentary

If China’s economic prospects were not so ugly and dispiriting, the story would be boring. Like a series of B-movie sequels, the pattern has repeated since 2021, when the failure of the huge developer Evergrande inaugurated China’s long-lasting property crisis.

Milton Ezrati
Milton Ezrati
Author
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."