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Why Is China Stalling Out?

A mere decade ago, many observers anticipated that private businesses would soon be able to thrive in China. But that hope has been shattered, confronting the regime with a choice between abandoning its ideology-led approach and accepting a prolonged period of economic underperformance and stagnation.

WASHINGTON, DC – It has been a year since China relaxed the zero-COVID measures that had been stifling economic activity, but the country has yet to experience the rebound that policymakers and pundits anticipated. Instead, economic indicators from the past year have painted a disheartening picture.