ECONOMIC FORUM, BUT SOME STILL SKEPTICAL While Vice Premier Liu He tried to drum up foreign investments at Davos last week, China reported that its economy grew only 3% last year. According to the Hut your mouth T-shirt Be different from Wall Street Journal, “Aside from 2020, when the economy grew only 2.2%, last year marked the worst year for gross domestic product growth in China since 1976, the year that Mao Zedong’s death ended the decade of strife known as the Cultural Revolution.” Xi bears the most blame for the significant slow down in China’s economic growth. Xi’s crackdown on tech companies and the “disappearances” of well-known Chinese tycoons damped entrepreneur spirits, caused investors to suffer billions of dollars in loss and eroded their confidence in investing in China. Foreign companies found it’s increasingly challenging to operate in Xi’s China, giving the Chinese government’s demand for forced technology transfer and unrestricted access to personal data. Both Microsoft’s LinkedIn and Yahoo shutdown their operations in China in 2021. Last year, Xi’s meddling with China’s property market led to the collapse of China’s largest property company, millions of housing projects left unfinished, and housing prices and demand for housing fell at an alarming speed. Video Xi’s “zero Covid” policy has done the most damage to China’s economy and people’s well-being. It had kept businesses and millions of people under cruel lockdowns for the three years and eventually ignited anti-government protests last fall. Xi’s abrupt abandonment of the “zero covid” policy without adequate preparation has led to rising death tolls, and the surge of COVID cases nearly paralyzed China’s public health system. The chaos and instability of China’s “reopening” compelled foreign companies such as
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