China’s Economy Appears to Be Stalling, Threatening to Drag Down Global Growth
Throttled by Beijing’s zero-tolerance approach to Covid-19, China’s economy is facing a spell of slower growth. Economists are toying with the term “recession” to describe it.
A recession commonly means two straight quarters of contraction, and that remains unlikely for China, many economists say. The country has many ways to ensure it posts stronger growth than the U.S. and Europe this year, including the ability to unleash heavy government spending.