The National Congress won’t matter to economic prospects as much as many think

CHINA FINANCIAL - Report 28 Oct 2022 by Michael Pettis

Special points to highlight in this issue:

* The leadership choreography of the National Congress left many people – both Chinese and foreign – increasingly worried about the economic outlook for China. While I have always expected a sharp slowdown in the years ahead and a very difficult adjustment, I am not sure the leadership change matters that much.

* The latest data releases tell us almost nothing new about the economy. Although GDP growth came in slightly higher than expected, the quality of growth continued to deteriorate.

Now read on...

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