- December 20, 2021
- Posted by: Stratford Team
- Category: Business
Add that to a handful of other problems in the world’s second largest economy, and you have some serious risks for the Chinese government to contend with in 2022.
Even though China emerged from 2020 as the only major economy to grow that year, growth has slowed faster than expected in 2021, weighed down by the real estate crisis, repeated Covid-19 outbreaks, supply chain disruptions and a power crunch.
All those headaches are making Beijing reconsider its approach to policy. During a key economic meeting earlier this month, top leaders from the ruling Chinese Communist Party marked “stability” as their top priority for 2022. That’s a huge pivot from last year’s meeting, when “curbing the disorderly expansion of capital” ruled the day.
“The emphasis on stability suggests that top leaders are increasingly concerned about the risk of instability,” said Larry Hu, chief China economist at Macquarie Group, in a recent research note.
“A year of regulatory…
