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Michael Pettis Explains How China’s Changing Economy Will Impact the World

by Eric Olander

China’s economy emerged from the pandemic much weaker than before. Unemployment is up, exports are down and a burgeoning property crisis is having a devastating impact on local government finances.

These changes in the economy are happening very fast, so quickly that it’s difficult for experts to keep pace with what’s happening, much less among those who don’t closely follow Chinese economic trends — particularly in developing countries.

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