Peter Zeihan May Be Right, China is Walking Into a Crisis
That is Peter Zeihan, a geopolitical strategist and the founder of the consulting firm Zeihan on Geopolitics. He is the author of The End of the World is Just the Beginning: Mapping the Collapse Of Globalisation (2002) predicting the collapse of the Chinese economy. He believes that China now has the fastest collapsing demographic in human history.Peter’s views about China may be right as some economists have implied that the demographic crisis will result in a labour crisis, and shrink China’s working force. Remember that the workforce is the strength of the Chinese economy, so what happens when this collapse?
Latest news from the Pew Research Centre survey stated that, “The data from more than 20,000 respondents in his 19 advanced economies revealed highly critical views of China on a range of issues, but also a shared view that China’s influence is growing.”China is undergoing a tough time, which is a grave threat to its economy, thus forcing the country to the state of economical distrust. Some of the problems include continued dependence on imports of food, energy, and raw materials, huge debt burden among others.China’s population began to decline in 2009, and it is forecasted that India’s population will surpass China’s in 2023. The countryLll is currently being affected by numerous economic challenges. Growth is stagnant, housing marketing is slumping, youth unemployment level is on a high, and the supply chain of businesses is facing problems. The world’s second largest economy is walking into a horrible crisis and no one seems to be doing anything about it.
China is suffering from a serious drought, its real estate sector is suffering from the decision of footing serious debt, and the situation is worsened by the Beijing adherence to zero Covid policy. In the past two weeks about 8 mega cities have gone into a partial or full lockdown, cities whose transport and manufacturing centres are home to over 127 million people.
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