“China’s recent steps to adjust Covid-19 controls and revive activity in the beaten-down property market stirred hopes that Chinese leader Xi Jinping is putting fresh emphasis on measures to support the economy, potentially leading to a strong rebound in growth next year,” the Wall Street Journal reports.
“But economists warn the moves so far haven’t amounted to a broad shift in Mr. Xi’s policies, and the messaging out of the recent Communist Party Congress only reinforced that the Chinese leader planned to stick to his goals of achieving economic self-sufficiency and ‘common prosperity’—even at the cost of lower growth rates.”
“While China’s economy is expected to recover somewhat in 2023 after a major slump this year, most economists doubt it will return to the heady expansion of prepandemic days soon, if ever.”
