Covid, Russia and Economy Put the ‘China Model’ to the Test nyti.ms/36Du8hc
“But China’s political-campaign-style regulatory crackdown has done its damage. Mass job cutting, once rare in China, is happening in tech, real estate, education and online games, some of the industries that were hit the hardest by the crackdowns. Posts about unemployment are shared widely as a gloomy sentiment grips the educated middle class.
“Standing at this historic turning point, we look back to the Golden Age,” read an online post about China’s four decades of economic transformation and dreams of individual prosperity. “We all thought it would be our future,” it said. “It turned out to be an illusory dream.””
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