‘Indeed, things are getting so difficult for Xi’s authoritarian directives…China’s economy actually fell into deflation in July, while factory-gate prices also extended declines—its debt is three times its GDP in 2022. Beijing’s consumer price index, the main gauge of inflation, fell 0.3 per cent in July, the National Bureau of Statistics of China (NBS) said, after having flatlined in June.’

Balázs Orbán opined that the economic competition between the Western and non-Western world is becoming balanced, thus the world is returning to a state of equilibrium. He recalled that in 1990, the Western world accounted for 50 per cent of the global economic power, whereas this year it is only 30 percent, and this loss of influence is visible in several areas.