What Xi Jinping gets wrong about China’s economy
Despite his protestations, the country does have an overcapacity problem
The EU is no stranger to overcapacity. Its economic landscape once featured butter mountains, milk lakes and other landmarks of excess production—the surreal results of its common agricultural policy, which guaranteed high prices to dairy farmers. Thus the president of the European Commission, Ursula von der Leyen, knew what she was talking about when she warned Xi Jinping, China’s ruler, about his country’s “structural overcapacities” at a recent meeting in Paris.
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This article appeared in the Finance & economics section of the print edition under the headline “Electric cars and more”
Finance & economics May 11th 2024
- What Xi Jinping gets wrong about China’s economy
- What would get China’s consumers spending?
- How Ukrainian farmers are using the cover of war to escape taxes
- Why the global cocoa market is melting down
- Against expectations, European banks are thriving
- Banks, at least, are making money from a turbulent world
- Could America and its allies club together to weaken the dollar?
From the May 11th 2024 edition
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No, but it is getting a lot harder to keep the faith
