China’s high-paced growth seems to have ended amid cooling economy: Survey

The high-paced growth era seems to have come to an end in China amid the constant crunch of Bejing’s economy, as almost 60 per cent of European businesses stated that they were cutting revenue projections for 2022, which does not bode well for Bejing’s attractiveness to overseas firms, according to a survey. China’s economy is cooling partly due to new constraints and partly change in development strategy. The coronavirus pandemic, the war between Ukraine and Russia and trade disputes with developed nations including the United States have imposed severe limitations to Bejing’s growth journey, according to the Financial Post. According…