China's Economic Crisis Sends Shockwaves Through Global Markets

China's economy, which has been on an uninterrupted expansion for the past three decades, is now facing a significant downturn. President Xi Jinping has shifted the Chinese Communist Party's focus from economic growth to national security, leading to a change in government priorities and behavior. The real estate market, a crucial source of wealth and government funding, is showing signs of collapse, with developers facing financial difficulties and prices declining. Other sectors of the economy, such as exports and domestic demand, are also under strain. This economic decline has implications for US businesses, including shrinking demand and unstable supply chains. Beijing's shift towards power and technology, rather than economic growth, poses challenges for policymakers and creates a more precarious global environment.