Post-pandemic, China faces economic challenges, with consumers hesitant to spend and a lingering real estate crisis impacting financial security. Despite meeting the government's 2024 growth target of 5%, analysts note that this figure masks ongoing structural issues, such as overcapacity and stagnant household finances. In contrast, the US, under a confident Trump administration, may be influenced by China's economic data as trade relations evolve. Experts highlight that, while the growth rate appears favorable, it does not reflect the true economic sentiment among the populace, who continue to struggle.
It's definitely amusing when you check the numbers [over the year] thinking: 'They'll never hit that target again.' And then, boom there it is.
China's headline growth figure looks better than it likely feels for most Chinese citizens. There has been no significant improvement in the perceived economic situation.
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