The 40-year boom of China is over now that the country is drowning in debt and running out of things to build.
- China’s catch-up model sparked an extraordinary period of growth that lifted China out of poverty and turned it into a global giant. Now the model is broken.
- Economists now believe China is entering an era of much slower growth, made worse by unfavorable demographics and a widening divide with the U.S. and its allies, which is jeopardizing foreign investment and trade.
- The International Monetary Fund puts China’s GDP growth at below 4% in the coming years, less than half of its tally for most of the past four decades.