While China is the top trading partner for 130 nations, its trade sanctions on Australia have backfired, with a ban on coal for political reasons causing widespread blackouts this year. Oxford Economics is forecasting China's growth plunging to just one per cent in 2022 should property giant Evergrande's debt woes spread to other parts of the economy. This would be the weakest gross domestic product expansion since 1976, the year China's Cultural Revolution ended with the death of Communist dictator Mao Zedong. At that rate, the economy would also be growing at less than half the 2.3 per cent pace of 2020 when China went into a hard lockdown.
lørdag 4. desember 2021
Why Xi Jinping's iron-grip over China faces its biggest threat yet
Xi Jinping's position as China's President could be threatened from within his Communist Party if economic growth plunges, a national security expert says. The authoritarian leader's crackdown on billionaires as part of a 'Common Prosperity' drive could destroy economic growth while a curb on essential exports could see other countries like Australia create their own supply chains to diversify away from China.
While China is the top trading partner for 130 nations, its trade sanctions on Australia have backfired, with a ban on coal for political reasons causing widespread blackouts this year. Oxford Economics is forecasting China's growth plunging to just one per cent in 2022 should property giant Evergrande's debt woes spread to other parts of the economy. This would be the weakest gross domestic product expansion since 1976, the year China's Cultural Revolution ended with the death of Communist dictator Mao Zedong. At that rate, the economy would also be growing at less than half the 2.3 per cent pace of 2020 when China went into a hard lockdown.
While China is the top trading partner for 130 nations, its trade sanctions on Australia have backfired, with a ban on coal for political reasons causing widespread blackouts this year. Oxford Economics is forecasting China's growth plunging to just one per cent in 2022 should property giant Evergrande's debt woes spread to other parts of the economy. This would be the weakest gross domestic product expansion since 1976, the year China's Cultural Revolution ended with the death of Communist dictator Mao Zedong. At that rate, the economy would also be growing at less than half the 2.3 per cent pace of 2020 when China went into a hard lockdown.
