China's Economy Slows: Reasons and Impacts

China's economy, which had been predicted to overtake the US as the world's largest, has experienced a major slump. The slowdown is primarily driven by the troubled real estate sector, where excessive borrowing and debt have put developers and local governments in a precarious position. Additionally, Western nations' intentional efforts to reduce reliance on China have resulted in a decline in China's exports and trade surplus, impacting the global economy. While export figures may not show a significant decline, Chinese goods are being rerouted through other countries before reaching the US.