was pounding out one consistent rhythm: China is back. After years of lockdowns and suppressed output, economists and investors cheered the end of Beijing's zero-COVID policy and the economic boom that was sure to follow. The colossus-in-waiting that is the Chinese consumer was about to roam freely, analysts said. This was great news for the whole world — everyone would benefit from the globe's second-largest economy getting healthy.
As opposed to slumps in the past, it also does not appear that Beijing is going to step in and reverse this downward trend. Chinese President Xi Jinping has instead been preparing his people for
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