The Economist is an influential weekly magazine that was founded way back in 1843. But its age hasn’t lent it much ability at all to analyze China’s economy, making embarrassingly bad predictions about this country over the last few decades that show us crystal clear: if you want to understand China and its economy, DO NOT read The Economist.
The magazine has got it wrong on so many major subjects, most recently being China’s huge successes in the AI sector.
Just yesterday they were forced to admit that success, with an article calling China’s AI boom “astonishing,” but just a few years ago they told readers not to hold their breath about the country’s chances in AI.
And their predictions over the decades that China was about to collapse even put serial self-loathing China-hater Gordon Chang to shame, and they were once hilariously even against China’s high speed rail!
Today we’ll take a closer look at some of The Economist’s embarrassing bad China takes.
This is Reports on China, I’m Andy Boreham in Shanghai. Let’s get reporting!