There are similarities with Japan in the 80s.
The big worry here to me is, without a solid recovery in confidence by locals about the prospects of the economy, they will continue to save instead of invest at home. Yes, Chinese could start increasing investments overseas. Manufacturers are already pouring billions to de-risk their China-centric operations. But this will be restrained by intense scrutiny in the West. Beijing needs to get serious about helping the consumer and its property market get back to strong growth.
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