China in the balance
China continues to invest more than other nations. That may depress capital efficiency. However, saving is even higher, which makes China self-financing and more balanced than many countries. The title of this document could refer to the recent increase in Covid-19 cases and deaths in China but it doesn’t. Equally, it could refer to China’s increasing isolation on the world’s geopolitical stage. Again, it doesn’t. What is referenced is the thorny question of whether China’s economy is out of balance.