All About China

It’s a start, maybe: China’s President Xi Jinping finally has a plan to stabilize the property crisis that has hobbled the nation’s economy since 2020. But it’s limited in scope, William reports; more aggressive reforms are in order. And critics say it could backfire, exacerbating housing oversupply and homeowners’ excessive leverage. … Also: Xi’s opportunistic plan to strengthen the yuan as Trump’s policies weaken the dollar likewise carries negatives. Xi envisions the yuan usurping the dollar’s global dominance, but a strong yuan runs counter to China’s need to combat deflation and overcapacity. … And: Insufficient “drip, drip” responses to China’s daunting economic challenges suggest a “lost decade.”