Here's why China's economy is headed for stagnation, according to Nobel economist Paul Krugman
The top economist compared China'sso far this year to Japan's economic woes in the 90s, when the nation's economic power began to decline.
Low fertility and low immigration rates led Japan's working population to decline rapidly into the 2000s. That led to weak investment in Japan's economy, which fueled higher debt balances. On top of that, China is also suffering from an unbalanced economy, Krugman said, with demand struggling to rebound after the pandemic.contracted in May, while real estate activity, which makes up about a fifth of China's economy, has also stalled.
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