For the past three decades, as China’s economy has developed into a global powerhouse, investment has grown reliably each year. That is about to change. This year, China’s investments in assets like new factories, public infrastructure and housing are expected to fall for the first time since the late 1980s, ushering in a more conservative era for an economy that has reshaped the global order with years of robust growth. The shift also signals that investing in China is no longer a surefire bet, even as Beijing continues to project confidence with economic growth estimates of 5 percent. But, as is often the case with the country’s economic data, the investment slump has raised more questions than answers.

Full analysis : China’s investment in manufacturing, infrastructure and property is expected to fall this year, a remarkable turn for an economy whose growth reshaped the world.