Published: March 7th, 2022,
Last updated: March 7th, 2022
This year’s National People’s Congress is a particularly grueling affair. For the third time, its deputies have been meeting under Covid restrictions this weekend. And the party is under growing pressure to continue spreading optimism. While managing the economy is starting to prove difficult due to the imbalance in the real estate market, new troubles are emerging thanks to the Ukraine war. Russia has dragged China into a conflict that is reaching uncontrollable dimensions. Even if this turns Russia into China’s economic vassal, it has almost only political value. It does not increase prosperity significantly. The threat of a slump in the global economy weighs much more heavily.