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China's Economy Faces Slow Growth: Urgent Preparations Needed

share-iconTuesday, December 31 comment-icon3 weeks ago 8 views
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China's Economy Faces Slow Growth: Urgent Preparations Needed

Credited from: SCMP

  • Many Chinese anticipate **a prolonged period of slow economic growth** in 2024, despite a projected growth rate of around **5 percent**.
  • Concerns rise as **long-term structural issues** like **population decline** and **housing oversupply** become evident, impacting private sector investment.
  • Economists warn of a potential **balance-sheet recession**, characterized by elevated private-sector debt and reduced spending.
  • Beijing has acknowledged the necessity of **policy adjustments** to maintain reasonable growth, although substantial stimulus measures seem unlikely.
  • To combat social unrest, China must transition its focus from **economic expansion** to enhancing **social welfare** for low-income households.

Read more at the original article: South China Morning Post

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Atlas Winston

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