China's dream of a smooth post-pandemic economic recovery has already turned into a nightmare
China's plan for a swift post-pandemic revival looks likely to be scuppered by a growing number of red flags, includingBeijing finally curtailed three years of harsh zero-COVID lockdowns late last year, but its economy has subsequently run into significant turbulence that's sparking alarm across the world.
Taken alone, headline figures still suggest robust growth, with the country's Gross Domestic Product likely to rise 7.3% in the second quarter, according to aBut because that's a year-on-year comparison, the bar for expansion is still low. In July 2022, the government was still taking a zero-tolerance approach to COVID-19, limiting the country's economic output.
Foreign direct investment in China has also dried up, with spending from outside China dropping by $20 billion, or a sixth, year-on-year, per data from theIt's a growing list of concerns that makes grim reading for Beijing, whose dreams of a smooth revival have quickly turned nightmarish.
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