By some measures, China’s economy is looking resilient, with strong exports and breakthroughs in artificial intelligence (AI) and other advanced technologies.
But that is not how it feels for many ordinary Chinese, who have been enduring the strain from weak property prices and uncertainty over their jobs and incomes.
While some industries are thriving, thanks to government support for technologies such as AI and electric vehicles, owners of small businesses report tough times as their customers cut back on spending.
Some economists believe that the world’s second-largest economy is growing more slowly than official figures suggest, even though China may hit its official 2025 annual growth target of about 5 per cent. Beijing has averted a damaging, full-blown trade war with Washington after President Donald Trump struck a truce with Chinese leader Xi Jinping, but…
