China lost its luster in 2022

It falls rather badly for Chinese President Xi Jinping. Less than a month before the 20th Congress of the Communist Party, which should confirm a third term for him, the World Bank published a report on Monday which highlights the weakness of its management of the economy. The Asian giant’s gross domestic product (GDP) growth rate will not exceed 2.8% in 2022, which means a sharp deceleration from 8.1% in 2021. The descent into hell might continue in the fourth quarter 2022; Chinese exports, one of the pillars of growth, might well slip due in particular to the slowdown in Europe and the United States.