The Impact of Beijing’s Growth Plans on China and the World

The CCP’s visions clash with economic realities in China and its trade partners.

The Lujiazui financial district in Shanghai, China, on June 5, 2024. Hector Retamal/AFP via Getty Images

Commentary

China’s economy is a tale of competing realities.

The Slowdown Is Real

On the one hand, China faces a drawn-out domestic economic crisis with multiple effects throughout the economy, most of which remain unresolved. A big factor continues to be the real estate sector. Not only have large commercial real estate development firms such as Evergrande gone away, but the residential home market is still at risk. June home prices saw their biggest drop in almost a decade.