Protests rocking China are the tip of a crisis with vast implications for the rest of the world

As we found out during the pandemic supply chain shock, what starts in China doesn’t stay in China any more. The current unrest caused by Covid lockdowns is challenging the country’s leadership at a time when those decades of breakneck economic expansion are at an end.

he world’s second largest economy is facing a ‘polycrisis’ all of its own making – protesting workers, Covid, a prolonged real estate crisis, and the realisation that its export and investment-driven model is no longer a path to sustainable growth. It is barred from accessing US high technology and now even Europe is turning its nose up at Chinese investment.

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