China and other major economies such as the United States, Japan, Germany and India are facing a host of economic challenges due to a diverse range of factors, two of the main ones being the global economy’s lack of growth momentum and the geopolitical turmoil globally.
Against this background, each time China responds to a new challenge affecting its economy, the West’s infamous “Chinese collapse” theory rears its ugly head.
For example, an article in a US newspaper, The Hill, last month was headlined “China’s economic collapse carries a warning about our own future” as if the “collapse” were a fait accompli. While one article published recently in a Western media outlet (East Asia Forum) said “Has the Chinese economy hit the wall?”, another (in The Strategist) posed the question: “Is China’s economy about to go bust?”
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