An assessment of the current economic situation and the challenges lying ahead
Over the past 75 years, China’s economy has undergone a profound transformation, often hailed as an economic miracle
This remarkable growth has slowed over the past decade, raising concerns about whether the economy is struggling or transitioning to a new phase in its development
In 2024, the economy’s performance was mixed: private consumption and the real estate sector undermined growth; external trade, mainly exports, was supportive
One key to converting high savings into spending and boosting consumption lies in repairing damaged consumer confidence, which could take time
Policy makers face a tough balancing act as they have to navigate a trade war that is likely imminent, heightened geopolitical uncertainty and an economy in transition
