3,000 delegates, two cups of tea for Xi Jinping and lots of polite applause. At the National People’s Congress, China unveiled its plans for steering its economy through 2025 with choreographed calm. In fact, there is much to be unsettled about. The world’s second-largest economy is in the doldrums. Chinese consumer confidence is yet to recover from the covid lockdowns and the property market continues to languish. While Donald Trump’s threat of 60% tariffs is yet to transpire, his trade war is stoking uncertainty. Against this backdrop, an economic recovery seems a long way off.
Alice Su, The Economist’s senior China correspondent, and Simon Cox, our China economics editor, ask: what is the Communist Party’s strategy to bring the Chinese economy back on track? And is China ready for the global economic turmoil ahead?
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