China’s economy slowed down in 2022 - The Hustle
The Hustle

China’s economy slowed down in 2022

Population decline, housing problems, covid, and more.

Olivia Heller

Last year, the Chinese economy expanded at its slowest annual rate of growth since 1976.

The country’s National Bureau of Statistics reported a drop from 8.1% in 2021 to 3% in 2022 — a number Wall Street says may even be overstated, per Axios.

What’s happening?

On top of all this, China’s recent covid wave and lockdown policies left many businesses inoperable for an extended timeframe.

This week, China announced its population shrank for the first time since 1961, declining by 850k people. As the country’s supply of young workers shrinks, it will need to find other ways to drive productivity to continue growing its economy.

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