In China, 96 percent of the roughly 300 million urban households owned at least one apartment in 2019, according to the latest central bank data. "The big risk is that the fallout from diminishing old growth sources could become too large to contain and inhibit new growth sources. If that happens, China could become stuck in transition," said Yuen Yuen Ang, Alfred Chandler Chair of Political Economy at Johns Hopkins University. Diplomatic tensions with the West over Taiwan, Ukraine and the South China Sea have contributed to its first ever foreign investment deficit. US tech restrictions on China prevent David Fincher's consultancy in Shanghai from doing business in leading-edge semiconductors, blocking off a key source of income.

Source: bd News24 January 18, 2024 18:17 UTC