The last refuge of the anti-Americans, China, which 10 years ago was supposedly about to pass the United States as the world’s greatest economy, is stagnating. China’s rate of growth is minimal. Artificial intelligence is producing a modest lift but China is receiving a small fraction of the annual AI investment of the United States. It is not achieving productivity levels that can make up for the sharply declining Chinese population, a consequence of the former leadership’s one-child policy. The Chinese population is expected to be cut in half by the end of this century. A giant real estate bubble has burst and the People’s Republic has responded with a heavy-handed regulatory crackdown, which saw billions in capital fleeing China and its financial markets, US$425 billion (C$597 billion) last year alone, according to writer and investor Ruchir Sharma.
Read full article on The Growth Op
