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Xi Jinping’s retreat on the global stage due to China’s slowing economy

In recent years, China’s zero Covid years have failed to provide much help and the expected post-Covid recovery has not yet fully materialized. Despite this, there are still positive developments in China’s present and future, such as renewable energy. Chinese electric vehicles are projected to capture a quarter of European sales this year and factory activity is rebounding, with analysts at Citi upgrading their prediction for the Chinese economy to 5% growth this year.

However, despite these positive developments, concerns about a concerning slowdown in China persist. There are fears that China may never be able to escape the middle income trap, which raises questions about the Communist Party’s mandate to rule. Recent developments, such as Xi Jinping’s visit to meet President Biden in San Francisco and a two-hour phone call between the two leaders, indicate a potential shift in China’s approach to external pressures.

During these interactions, Xi Jinping expressed concerns about America’s sanctions that could hinder China’s progress in key sectors like semiconductors, artificial intelligence, and renewables. He also raised issues like America’s support for Taiwan and the potential divestment of TikTok from its parent company. In response, there appears to be a change in China’s tone, with a reduction in aggressive rhetoric from the wolf warriors and the removal of punitive trade barriers like the embargo on Australian wine. This shift towards cautiousness could represent a strategic move by China to ease external pressures on its economy.

By Samantha Jones

As a dedicated content writer at newsaca.com, I bring a unique blend of creativity and precision to my work. With a passion for storytelling and a keen eye for detail, I strive to craft engaging and informative articles that captivate our readers. From breaking news to thought-provoking features, I am committed to delivering content that resonates with our audience and keeps them coming back for more. Join me on this exciting journey as we explore the ever-evolving world of news and information together.

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