For all the worry about how America has become one big bet on AI, a similar but perhaps more alarming story is unfolding quietly in the other economic superpower. China’s vaunted AI prowess is concealing deep rot elsewhere in its economy.Though many forecasters keep expecting China to surpass the US as the world’s leading economy, its growth peaked in 2021. Since then, China’s share of global GDP has fallen in nominal terms from 18 to 16.5 per cent, while the US share has risen to 26 per cent.Financial TimesSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
China’s real growth is near zero. Not even AI can arrest its decline
The growing hype around AI doesn’t change the fact that 2021 was peak China. Given its demographic challenges and heavy debts, Beijing can’t do much about it.
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