March 7, 2019

CHANGE? China’s superrich are losing faith in the country’s economy, with some even worried it will turn into the next Venezuela.

Word of China’s wealthy elites losing faith in the future of China’s runaway economic success story comes with the country at a major crossroads of a trade dispute with the US and a general slowdown in growth.

China’s economic growth, while still very high by the standards of developed economies, is slowing. At the end of 2018, it expanded at its slowest year-on-year pace since the height of the Great Recession.

The Chinese economy grew by 6.6% over a year earlier, down from 2017’s 6.9%, official data suggested in January.

Not only is growth slowing, but many Chinese elites are said to be fearful that the economic liberalization that helped make China the second-largest economy on earth is stuttering.

As I was just saying…

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