Why the Chinese dragon is faltering
How much China’s growth slows depends on how much it stimulates its economy and whether it relaxes its zero-Covid stance. There is a great deal of uncertainty over whether the authorities are ready to do either
The world’s major economic zones are under pressure. In China this stems from its overzealous response to the pandemic; in the US, from rapid monetary tightening; and in the eurozone, from the fallout from the Russia-Ukraine war.
All three trends will shape the near-term global outlook as well as SA’s growth prospects this year, but few things will matter more to SA than the extent of China’s slowdown...