The world's second-largest economy is facing a prolonged property crisis, steep local government debt, weak consumption and high unemployment. Past outcomes of the Plenum have changed the course of history in China - in 1978, then leader Deng Xiaoping began opening China's markets to the world, and in 2013 President Xi Jinping hinted at loosening the controversial one-child policy.
mandag 15. juli 2024
Xi tackles slow growth as economy 'hits the brakes'
China's economy stumbled in the second quarter, official data shows, just as the country's top leaders gathered for a key meeting to address its sluggish growth. It grew 4.7% in the three months to June, falling short of expectations after a stronger start in the first three months of 2024. The government's annual growth target is around 5%. "China’s economy hit the brakes in the June quarter," said Heron Lim at Moody's Analytics, adding that analysts are hoping for solutions from the meeting under way in Beijing, also called the Third Plenum.
The world's second-largest economy is facing a prolonged property crisis, steep local government debt, weak consumption and high unemployment. Past outcomes of the Plenum have changed the course of history in China - in 1978, then leader Deng Xiaoping began opening China's markets to the world, and in 2013 President Xi Jinping hinted at loosening the controversial one-child policy.
The world's second-largest economy is facing a prolonged property crisis, steep local government debt, weak consumption and high unemployment. Past outcomes of the Plenum have changed the course of history in China - in 1978, then leader Deng Xiaoping began opening China's markets to the world, and in 2013 President Xi Jinping hinted at loosening the controversial one-child policy.
