Lockdowns in 2020 through 2022 brought China’s era of rapid growth to a sudden, crashing end.
The change has been aggravated by a fraught geopolitical context, which could get worse in a US election year.
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However, the transition had been partly forecast, and the government made some plans to manage its impact.
Most notably, the ‘Made in China 2025’ initiative sought self-sufficiency in future supply chains, like semiconductors.
It also attempted to take heat out of the overinflated proper…
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