China's economic slowdown raises 'Japanification' fears

Weak inflation, aging population and excess savings echo post-bubble Japan

20230803N Shanghai skyline

China's economy has struggled to get back on track even after the end of the zero-COVID policy that locked down commercials hubs like Shanghai. © Reuters

NORIYUKI DOI and IORI KAWATE, Nikkei staff writers

SHANGHAI/BEIJING -- China's economy is showing signs of falling into a similar slump as Japan after the end of its asset-price bubble, with uncertainty sapping business and consumer appetite for spending as population decline sets in.

Even after the government ended its zero-COVID policy for containing the virus, the economy is still struggling to get back on track.

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