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Letter from Beijing, with Han Feizi — #72

Manifold

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China's Economic Paradox: A Deep Dive

This chapter explores the complexities of China's economy, particularly the implications of the real estate market's decline and its effects on GDP and urban livelihoods. It contrasts struggles in major cities with growth in lower-tier cities, examines consumption patterns, and critiques longstanding economic theories about investment and consumption. The discussion culminates in a reevaluation of China's economic structure, highlighting inconsistencies in predictions and the challenges posed by current market conditions.

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