An article to Cheer everyone up. Winnie-the-Pooh is Making China Poor Again.
“As China’s economy slows, the buck stops with leader Xi Jinping”
“For a generation of Chinese who grew up knowing nothing but boom times, 2023 is proving to be a bit of a downer.
Yes, there’s the relief of exiting coronavirus controls, but the Chinese economy is not roaring into a post-pandemic recovery. Instead, houses aren’t being sold, families aren’t spending and recent graduates either can’t — or don’t want to — find jobs.
“Optimism isn’t really appropriate if you’re a realistic person, and most people are pretty realistic,” said Yang Aha, a 24-year-old accounting graduate who has been living with her parents in Guangzhou for months while she searches for work. “Everyone is just trying to muddle through.”
The Chinese government expects the economy to grow by 5 percent this year — only half the rate recorded in 2008, when Xi Jinping became vice president — but economists are warning that target is looking unachievable because of a looming property market bust and local government debt crisis.
With growth expected to slow further over the coming decade, it will be difficult for China’s gross domestic product to overtake that of the United States or hit its target of doubling by 2035.”
https://www.washingtonpost.com/world/2023/08/25/china-economic-growth-slowing-xi-jinping/
another Xi stress test to prepare the people for a major war.