Recession with Chinese Characteristics

Recession with Chinese Characteristics

The Trump-Xi summit was interpreted by some, including Xi, to represent America’s decline and China’s rise. While President Trump’s behavior often suggests decline, one way or another, China’s rise should be questioned. Due to policy choices and demography, China’s long-term economic future is grim. Perhaps more surprising: in the short term, China’s purely domestic economy may have been shrinking for at least two years. “Domestic,” of course, h…