11 August 2023
China is facing significant economic headwinds, evidenced by its recent slide into deflation. The once robust economy, which experienced growth rates above 10% in the 2000s, now confronts a slower GDP growth, currently pegged at 5.2% for this year. Additionally, the country grapples with decelerating exports, skyrocketing youth unemployment rates, and a turbulent property market highlighted by potential debt crises for leading developers. Xi’s government has responded by tightening control over economic narratives and taking measures to silence negative economic news, further raising concerns over transparency and the nation’s actual economic stability.