Currents in Context
For a number of years, China seemed to be making inroads in Central and Eastern Europe, even drawing participation in an informal grouping of CEE nations. Lately, though, it seems that CEE states are fed up with unfulfilled promises, aggressive diplomacy and illiberal behavior.
China now talks about a “dual-cycle” of development that means less dependence on foreign markets and greater domestic demand. Only by stabilizing employment can the country effectively develop and sustain demand. But current rates of growth suggest stabilizing employment will be a tough ask.