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The Slow Death of Beijing’s Economy Has Already Begun. For years, Beijing’s economy was built around one core advantage: Proximity to power.That created a dense ecosystem of:government institutionsSOE headquartersmultinational officeshigh-end service providersRoughly 4 million people, or about one-third of the city’s workforce, depended on it.They had stable incomes.They drove real estate.They powered high-end consumption.That system is now breaking.First came regulatory shock.Tech companies wer
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