Keyu Jin is the author of "New China Playbook: beyond Socialism and Capitalism," and a professor of Economics at HKUST and visiting scholar at Harvard University.
When the U.S. enters a recession, typically every few years, the public seldom questions whether the economy has peaked. Yet China's recent sluggish growth has sparked widespread speculation about a potential long-term decline. Critics cite centralized power, a prioritization of national security over economic growth, and a retreat from market-oriented policies. But before declaring the Chinese economy is in permanent decline, we must examine the situation with nuance, precision and foresight -- especially as we look toward what might unfold in 2025.
