China’s Economic Prospects Are Brighter Than They Appear
Despite the recent wave of disappointing economic news, China is well-positioned to grow by 5% in 2024. By implementing expansionary fiscal and monetary policies and pursuing meaningful reforms, it could reverse its decade-long economic slowdown and maintain robust growth for years to come.
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BEIJING – The start of 2024 has been marked by a wave of increasingly pessimistic forecasts for China’s economy. While the Chinese government remains optimistic, the International Monetary Fund projects that GDP growth will slow to 4.6% this year, from 5.4% in 2023. Meanwhile, the Chinese stock-market rout is expected to continue after share prices fell to their lowest level in five years.