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On India-China relations, conversations were marked by a more aggressive tone and even arrogance compared to one’s experience over the previous two years. | Illustration: Binay Sinha
6 min read Last Updated : Jul 15 2025 | 10:18 PM IST
During my visits to China in 2023 and 2024, I encountered a subdued and even pessimistic mood among my Chinese interlocutors. The Chinese economy was in the doldrums, thanks to a pervasive crisis in its property sector, which had been the main engine of accelerated growth for the past four decades.
The property sector constituted 30 per cent of the annual gross domestic product (GDP) growth and spawned many ancillary industries, supporting its rapid development. When the property sector collapsed in 2021, the knock-on effects reverberated throughout the economy. The economy is still facing deflationary pressures as consumption demand remains
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