spot_img
Saturday, July 20, 2024
More
    spot_img
    HomeBlogChina’s many systemic problems dominate its outlook for 2024 | George Magnus

    China’s many systemic problems dominate its outlook for 2024 | George Magnus

    -

    Japan’s example 30 years ago shows islands of excellence can combine with deep structural imbalances

    There were contrasting reactions when the US rating agency Moody’s downgraded China’s A1 credit rating outlook from stable to negative last month. Financial markets, focused on the economy, paid it barely any attention. Chinese state media, looking at the politics, saw red. Global Times called it “biased and unprofessional”. A few days later, the Ministry of State Security issued a statement stipulating that the only purpose of “negative talk” was to doubt or deny China’s socialist system, and to contain its development.

    The Chinese Communist party’s prickly attitude to criticism is not uncommon. It chooses instead to propagate a narrative of continuous success in which its own role is pivotal. It recognises that China confronts big challenges nowadays, but attributes them to low confidence, thinks they are fleeting, and says they’ll be resolved in 2024.

    Continue reading…

    ​Business | The Guardian

    Related articles

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Stay Connected

    0FansLike
    0FollowersFollow
    0FollowersFollow
    0SubscribersSubscribe
    spot_img

    Latest posts