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China’s Economic Rebound Hits a Wall

The Daily

Jul 17 2023 • 22 mins

When China suddenly dismantled its lockdowns and other Covid precautions last December, officials in Beijing and many investors expected the economy to spring back to life. It hasn’t worked out that way.

Daisuke Wakabayashi, an Asia business correspondent for The Times, explains why China’s economic rebound hit a wall, and what it says about the country’s next chapter.

Guest: Daisuke Wakabayashi, an Asia business correspondent for The New York Times.

Background reading:

  • Policymakers and investors expected China’s economy to rev up again after Beijing abruptly dropped Covid precautions,but recent data shows alarming signs of a slowdown.
  • Nanchang’s skyscrapers represented urban transformation, but the city added apartments faster than its population grew.The result: vacant homes and offices.

For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday.

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