For the past two decades, China’s rise seemed unstoppable. Its vast productive capacity cast such a shadow over Asia that many global chief executives came to see the region as two distinct entities: China, and everything else.
Covid changed that. Not overnight. But more than a year on from its belated decision to open its borders and let the world back in, China is in a surprisingly uncertain place. While far from enfeebled, its economy is certainly sclerotic.
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