this post was submitted on 18 Oct 2023
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I do not understand this emoji, but now I'm making the same face and it won't stop
It is pay wall, did not find alternative, so posting other sources on subject:
https://www.globaltimes.cn/page/202310/1300068.shtml
https://news.yahoo.com/chinas-third-quarter-economic-growth-021703776.html
The title is incorrect. GDP grew 1.3% in Q3. I think the article was referring to annual GDP growth, not Q3.
But at what cost???
Alternatively;
China fails to grow at 5% is their economy on the brink???
Western analysts really aren't doing too hot when talking about China's economy recently. China's on track to hit their target 5% growth this year.
To push China towards its annual growth target of 5 per cent — already the lowest in decades — Beijing has in recent months tried to stabilise the property and banking sectors and shore up support for the country’s stock market and renminbi.
Alicia García-Herrero, chief Asia-Pacific economist at Natixis, said the breadth of the stabilisation measures showed Beijing was responding to “cracks” emerging in the financial system.
“Mild growth of 5 per cent for the year won’t be enough, it seems to me, to cover those cracks,” she said, adding: “If the world goes in the wrong direction . . . it is going to be very difficult for China to avoid those cracks getting deeper.”
5% growth is low for China.
Congratulations China! I’m hopeful the US can be collaborative competition!