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China’s Vice Premier Liu He traveled to Davos this month to convey a singular message: that his country’s economic growth, which reached a decades-long low in 2022, would soon rebound to pre-pandemic levels.
The prospects for an economic rebound are good. Although Covid-19 continues to disrupt supply chains, Covid cases in China may have already peaked. And with rolling lockdowns and closures thing of the past, the country is likely to see gradual growth in consumer confidence.
Unfortunately, though, China faces a much broader set of challenges as it looks to get economic growth back on track.
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