Analysis
Looking back at 2022, China’s economy increasingly struggled under various policies of the Chinese Communist Party (CCP). From the extreme “zero-Covid” policy to the regulations in the real estate sector, and from the waves of defaulted loans on incomplete buildings to the deterioration of exports, China’s economy has been hit hard, and many policies of the CCP authorities have undergone significant changes.
We will review five major aspects that deeply impacted China’s economy in 2022.
Continued Deterioration of the Export Industry
Exports have been one of the three pillars of China’s economy, growing by 4 percent in 2020 and 21.2 percent in 2021. In 2022, however, things changed, with exports growing by 13.2 percent in the first two quarters, or 2 percent in real terms, after adjusting for inflation….