Where is China’s Economy Heading under Xi?

Abstract

China’s economy is undergoing a difficult period in which its gross domestic product, rate of employment, and residential real estate market are a few segments that are in serious trouble. China’s gross domestic product, at one time the envy of the global economy, has experienced a severe slowdown that deeply worries its policymakers. This has affected its workforce resulting in layoffs and that China’s young graduates cannot find employment matching their training and level of education. The once-booming real estate market has experienced severe contractions resulting in ghost cities full of empty buildings.

The response of China’s President Xi has been anything but exemplary. Xi’s policies and actions have attempted to turn China’s economy away from privatization, high technology, and innovation just so he can retain control over the country even if it means slower economic growth.

The aim and purpose of this article is to examine China’s economy and what President Xi is attempting to accomplish as its leader.