What China’s Economic Woes May Mean for the U.S.

The news about China’s economy over the past few weeks has been daunting, to put it mildly.

The country’s growth has fallen from its usual brisk 8 percent annual pace to more like 3 percent. Real estate companies are imploding after a decade of overbuilding. And China’s citizens, frustrated by lengthy coronavirus lockdowns and losing confidence in the government, haven’t been able to consume their way out of the country’s pandemic-era malaise.

If the world’s second-largest economy is stumbling so badly, what does that mean for the biggest?

Short answer: At the moment, the implications for the...