The Intelligence from The Economist
When politics dictates policy: China’s faltering economy
Sep 29, 2023
Simon Cox, the China economics editor for The Economist, dives into the challenges facing China's economy, particularly the Evergrande crisis and the tight grip of internal politics on policy-making. He discusses how shifting government strategies under President Xi Jinping have dampened consumer confidence. Meanwhile, Anne Rowe, Obituaries editor, reflects on Colombian artist Fernando Botero, exploring his unique artistic style that poignantly captures marginalized communities and addresses themes of violence and suffering.
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Quick takeaways
- China's government is hesitant in responding to their struggling economy due to political constraints and caution by central bankers.
- Latin America is a favorable ground for Russian spies due to proximity to the United States, corruption levels, and lack of professionalism in local intelligence agencies.
Deep dives
China's economic slowdown and hesitant response
China's struggling economy is facing a slowdown, partly due to changes in the housing market and global economic weakness. However, the Chinese government has been hesitant in its response to the downturn, with limited interest rate cuts by the central bank. Political constraints and caution on the part of China's central bankers contribute to the timidity. The usual responder to an economic slowdown, the Prime Minister, lacks the influence and assertiveness needed to boost confidence and stimulate the economy.
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