How much trouble is China’s economy in?
Growth is faltering and the country is flirting with deflation
When janet yellen visited Beijing this month she did her bit for the local restaurant trade. America’s treasury secretary dined with her team at an establishment known for Yunnanese dishes, which subsequently unveiled a “God of Wealth” menu in her honour. She also hosted a lunch with female entrepreneurs and economists (including a representative of The Economist Group). Although restaurants have prospered since China dropped its covid controls at the end of last year, the gods of wealth have been less kind to the rest of the country’s economy—as gdp figures released on July 17th revealed.
This article appeared in the Finance & economics section of the print edition under the headline “Feel-bad recovery”
Finance & economics July 22nd 2023
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