For most of the last decade, there has been a ubiquitous media narrative that it was just a matter of time before China’s economy surpassed the U.S. economy. However, in the last year, there has been a neck-snapping reversal in that narrative. Now, there is story after story highlighting the weakness of China’s economy and frequently making dire predictions about its future. But a cooling of the Chinese economy was always in the cards and while it faces serious challenges, it is still going to be the second-largest economy in the world for a long time.
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