Instead, halfway through 2023, it's facing a confluence of problems: Sluggish consumer spending, a crisis-ridden property market, flagging exports, record youth unemployment and towering local government debt.
Although the 1982 constitution guarantees freedom of speech, the Chinese government often uses the "subversion of state power" and "protection of state secrets" clauses in their law system to imprison those who criticize the government.
Even so, China still faces significant economic challenges. The contraction in real estate remains a major headwind, and there is still some uncertainty around the evolution of the virus. Longer-term, headwinds to growth include a shrinking population and slowing productivity growth.
The Regional Comprehensive Economic Partnership (RCEP) is a free trade agreement between the Asia-Pacific nations of Australia, Brunei, Cambodia, China, Indonesia, Japan, Laos, Malaysia, Myanmar, New Zealand, the Philippines, Singapore, South Korea, Thailand, and Vietnam.
Professor Hu Xingdou of the Beijing University of Technology said corruption, state monopolies, the yawning wealth gap, and the rising cost of housing, education and medical care all contribute significantly to unrest.
A major lender abroad, China is facing a debt bomb at home: trillions of dollars owed by local governments, their financial affiliates, and real estate developers.
Rajah last year projected that while China would become the world's biggest economy by 2030, “its size advantage over America would be slim and it would remain far less prosperous and productive per person than the United States and other rich countries, even by mid-century.” The Japan Center for Economic Research, ...
The country's population fell in 2022 to 1.411 billion, down some 850,000 people from the previous year, China's National Bureau of Statistics (NBS) announced during a Tuesday briefing on annual data.
The one-child policy was a program in China that limited most Chinese families to one child each. It was implemented nationwide by the Chinese government in 1980, and it ended in 2016. The policy was enacted to address the growth rate of the country's population, which the government viewed as being too rapid.
Authorities regularly detain those who do not conform to CCP ideology. Those brave enough to speak out are often subject to prolonged and secret detention without access to legal counsel or the ability to communicate with their families.
Arrest and detention
You may be subject to an INTERPOL Notice. Chinese criminal law is applicable to both citizens of China and foreigners who commit crimes within the territory of China. The police can detain suspects for up to 37 days before the prosecutor approves the arrest.
“Made in China 2025” is a strategic plan that was initiated in 2015 to reduce China's dependence on foreign technology and promote Chinese technological manufacturers in the global marketplace. The goal is to reach this objective by the year 2025, a decade from the year when the plan first took root.
Some consensus has concluded that China has reached the qualifications of superpower status, citing China's growing political clout and leadership in the economic sectors has given the country renewed standings in the International Community.
A new UBS (UBS) survey finds 57% of global investors predict China will replace the U.S. as the world's biggest superpower by 2030. A majority agrees with that sentiment in every region except the United States, where only 47% expect it will happen.
India to overtake China as world's most populous country in April 2023, United Nations projects. United Nations.
Over the next 30 years, it seems likely that China and India will amass the 'hard' and 'soft' power to gain superpower status. Yet doing so requires overcoming challenges in education and healthcare. Their drive to do so through public and private sectors has clear investment implications.
In 2021, a remote coal town in northeastern China was forced to undergo an unprecedented financial restructuring.
Since the beginning of the pandemic, Australian Government gross debt has increased from $534.4 billion in March 2019 to $894.9 billion as of 28 October 2022.
But other experts argue the risk of a hard landing is low. China has little overseas debt, and a high national savings rate. In addition, most of the debt is state owned – state-controlled banks loaned funds to state-controlled firms – giving the government the ability to manage the situation.
At the end of 2021, of the 98 countries for whom data was available, Pakistan ($27.4 billion of external debt to China), Angola (22.0 billion), Ethiopia (7.4 billion), Kenya (7.4 billion) and Sri Lanka (7.2 billion) held the biggest debts to China.
The counterintelligence and economic espionage efforts emanating from the government of China and the Chinese Communist Party are a grave threat to the economic well-being and democratic values of the United States. Confronting this threat is the FBI's top counterintelligence priority.
By the mid-nineteenth century China's population reached 450 million or more, more than three times the level in 1500. The inevitable results were land shortages, famine, and an increasingly impoverished rural population. Heavy taxes, inflation, and greedy local officials further worsened the farmer's situation.
According to the Global Burden of Disease Study (GBD) 2019, the four leading causes of morbidity and mortality in China are ischaemic heart disease, stroke, chronic obstructive pulmonary disease, and lung cancer, and the leading disease risk factors are tobacco smoking, high systolic blood pressure, and dietary and air ...