Worldcrunch
Life has resumed its course in the large industrial city in central China, where the virus first appeared at the end of 2019. Five years after confinement, the 14 million people of Wuhan are drowning in economic difficulties. Meanwhile, China has erased this period from its history.
China’s economy is doing badly. The party leadership will not tolerate criticism of its course, but is looking for ways out of the crisis. These five problems could hinder China’s growth for a long time.
China’s real estate crisis is hitting small, unattractive cities like Shaoguan hard. This city of 3.3 million residents in the far south of the country has a stock of empty apartments that could take 10 years to sell.