Prominent Chinese experts sounded the alarm over the serious threats facing the world’s second-biggest economy.
Beijing’s trade war with Washington has dominated attention, and Chinese officials previously downplayed the myriad long-term risks to growth, making the latest warnings notable.
A leading Communist Party journal recently cautioned against “overcapacity” — a term Beijing once fiercely contested — while an influential economic adviser joined a growing number of voices saying China must guard against involution, or economically destructive price wars.
Meanwhile Caixin, the highly regarded business magazine, reported that China’s debt-laden property developers are imposing steep haircuts on creditors to avert bankruptcy, creating “a perilous new chapter” in the country’s real estate crisis.
