China's home-made slow-motion crisis

Last week, China announced that its economic growth fell to 6.6 per cent, its lowest in 28 years. The Straits Times looks at what this means for Asia and the rest of the world.

The ubiquitous developments that were such conspicuous testament to China's enviable growth over the last couple of decades are now telling another story, of a growing malaise.

Millions of apartments stand empty in eerie ghost cities, while theme parks in the middle of nowhere languish, deserted. Railroads, airports and superhighways are barely used even as a glut of steel, aluminium, glass and cement accumulates.

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A version of this article appeared in the print edition of The Straits Times on January 28, 2019, with the headline 'China's slow-motion crisis'. Print Edition | Subscribe