China in 2022: Five Areas to Watch

A year ago, China’s economy was roaring back from COVID-19, its leaders were on the verge of sealing an investment agreement with the European Union and they were being celebrated for ambitious new climate reduction targets. As 2021 draws to a close, a very different picture is emerging. A long-simmering property crisis has boiled over, raising doubts about China’s growth model and inevitable rise narrative. The state is tightening its grip over the economy and society, with a crackdown on big technology firms and zero-tolerance pandemic policies that are cutting China off from the rest of the world. And multilateral efforts to push back against Beijing’s distortive economic policies and more assertive diplomacy are accelerating. In short, China enters 2022 facing more powerful economic and geopolitical headwinds than it has in decades. Against this backdrop, Rhodium Group experts offer their assessment of how China dynamics could evolve next year across five domains: the political landscape; the economy; the technology sphere; climate policy; and the multilateral push to respond to Beijing.

Posted July 22, 2022
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