China made the deepest cut since 2020 to a key interest rate before posting a disappointing July report card
Business InsiderJUL 2023
The Spin
Anti-China narrative
The PRC's expected post-COVID economic rebound is not happening, and Beijing should be worried. Due to declining exports and imports, shrinking property values, and the remaining demographic effects of the one-child policy, China is looking at a depressing economy over the next decade.
Pro-China narrative
While youth unemployment is dealing with some issues, the overall unemployment rate in China is stable. Furthermore, most of the 11M college students set to graduate in 2023 already have jobs lined up, which means the youth demographic is still strong and getting stronger. The reason Beijing has paused the release of certain economic data is to give the PRC time to represent a more realistic — and factually optimistic — outlook for the country.
Metaculus Prediction
There's a 69% chance that China's GDP will exceed the United States' GDP in any year before 2041, according to the Metaculus prediction community.
