For subscribers
Have we reached peak pessimism on China?
The consensus now sees the country stagnating long term, but is missing more dramatic short-term scenarios.
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The case for a bounce-back rests in part on China’s tech prowess.
PHOTO: REUTERS
Ruchir Sharma
China fell off “the miracle path” years ago and now, many are catching up to the story.
An ageing population, high debt levels and a meddling government are turning the country into a fading power like Japan of the 1990s, when its economy slowed sharply but avoided an outright crisis.
