54 // DISCOVERY | BUSINESS & ECONOMICS
the chinese economy: still going strong AUTHOR // FELIX RYAN There has been media noise in recent times about the possibility of a Chinese economic slowdown or crash. This is nothing new; swathes of spectators have persistently claimed over the past decade that China’s miraculous growth will come to a halt, due to an ever-changing myriad of variables resulting in this ‘inevitable’ economic calamity. But criticisms often fail to capture a wider understanding of the heterogeneous and complicated systems of China’s economy. Upon examining a few criticisms, while they have validity, they also reveal that these perceived threats only pose an ostensible danger. In fact, an efficient government with a unique balance of ideas has allowed China to consistently meet its
growth targets, and will be the key to overtake the US in economic power. We have so much to learn from China’s approach to economics; if we choose to not be dismissive and examine issues closely, we may gain insight into our own economic woes. Possibly the most common issue commentators have with China is its high levels of debt. China’s economy has primarily grown through the proliferation of government-funded investment projects (investment alone made up for 60 per cent of GDP in 2017), which have been utilised in domestic spending, such as high-speed rail construction and housing. Over the years, this has brought on ever- mount-
