News Snapshot:
[post] ] China is now the biggest potential source of global economic instability, thanks to mulish persistence with the zero-Covid strategy favoured by its authoritarian leadership. This potential instability also manifests the contradiction between centralised decision-making and a capitalist economy with its inherent need for a political system that enables myriad, decentralised economic decisions . China’s growth in 2021 is estimated to clock in at 8.1%, but growth in the last quarter would be only half that rate, thanks to Covid lockdowns, along with problems in real estate, aggravated by Evergrande, the world’s largest real estate firm that is struggling...
