EVERYTHING IS GOING SWIMMINGLY, CHAIRMAN XI: Chinese Weakness is the Real “China Shock:” It has been over a year-and-half since the end of “Covid Zero” restrictions, but domestic demand is still so weak that production is only holding up thanks to exports (dumping?)

The Chinese government’s management of the economic consequences of the pandemic was uniquely bad. Its policy errors compounded longstanding structural issues in the distribution of income, harming not just the Chinese people, but workers in the rest of the world.

And yet our ruling class still sees China as a model. Then again our ruling class, like China’s, doesn’t prioritize the well-being of its citizens.