Sometimes as a rational thinker, I've tried to wrap my head around how China has been able to sustain their economy with an estimated GDP growth of 3.00 percent and per CAPITAL GDP of 18187.98 USD, Especially owing to the fact that, they have to much people heavily dependent on her economy and population of over 1.400 billion people.
I see a lot of countries with much lesser population struggling to sustain their economy at this point, with global inflation, the after effect of COVID-19 other multi-dimensional economic problems. Because I can remember vividly that China, are one of the highest hit of COVID-19 but yet they are still waxing stronger economically.
The other day,
Pawal7777 was talking about recession hitting CANADA, and that's how other countries are having one difficulty here and there economically. So my point is, what economical indices is china adopting to keep their economy afloat?
There's no doubt that the Chinese government had brought hundreds of millions of people out of poverty in the last few decades. In the early years they achieved this by creating many millions of factory jobs which had rather "basic' conditions with health and working hour conditions that would never be accepted in developed countries. However lately they face the typical problem that new generations of workers are wanting to gravitate towards less menial tasks but there does not seem to be capacity to support them. Combined with older generations using property as their main investment/retirement vehicle it creates a rather chaotic situation which may unravel the whole economy.