Source: Quillette
by Aaron Sarin
“After a lifetime listening to stories of the great miracles wrought by the Chinese economy, the truth has a disorientating, even surreal quality — in the end, China never did get rich after all. Those golden years of double-digit growth belong to history. Spiralling debt; lethargic household consumption; ever-rising youth unemployment; a property industry in crisis; a demographic timebomb — today, every trend is an adverse trend. Whether the data portend dramatic collapse or merely decades of slowdown, recovery is not an option.” (04/27/24)
https://quillette.com/2024/04/27/the-great-divide-china-inequality/