How soon and at what height will China’s economy peak?

CHINA HAS this year liberated its economy from the lockdowns, quarantines and other strictures of its “zero-covid” regime. But it has not freed itself from longer-term worries about its growth prospects. Its population is shrinking. Its epic housing boom is over. Thanks to a regulatory crackdown on e-commerce firms, the Communist Party has cowed the tech billionaires it once courted. Jack Ma, a former teacher who became one of China’s most celebrated entrepreneurs, has returned to teaching—in Japan.