No, China did not manage to avoid a crash

Despite earlier perceptions of China's recession-proof economy, recent reports indicate that the country experienced its first quarterly GDP contraction in nearly three years during the second quarter of 2021. This marks a significant shift from its previous record of avoiding negative growth during the 2008 global financial crisis and the 2015 stock market crash. The downturn highlights vulnerabilities in China’s economic model, which has long relied on government intervention and heavy manufacturing, suggesting that the era of uninterrupted growth may be coming to an end. This shift could have broader implications for global markets and China's role as a dominant economic power.