China’s economy has shown signs of difficulty. Prices are falling, private investment is not growing, corporate sales have stagnated. Many international observers believe that China is going down a road of long-term recession. However, that view is squared by the fact that China is leading the world’s technological and production frontiers in several key sectors, including artificial intelligence, alternative energy and electric vehicles. China’s slowdown is not structural, but a result of the government’s intentional moves to correct some of the problems that the authorities believe are incongruent with the country’s future, including corruption, over-marketisation in some areas, heavy debts and an over-developed real estate market. The slowdown is a willing price that the government would like to pay. The Chinese economy will be on track once the corrections are completed.
This event is jointly organised by the Centre on Asia and Globalisation and the East Asian Institute.