China’s economy faced its slowest growth in three decades, expanding 5.2% to $17.6 trillion in 2023 amid a property crisis, weak consumption, and global uncertainties. Though exceeding Beijing’s target, it marks the weakest performance since 1990, excluding pandemic years. The post-pandemic rebound lost steam due to consumer and business hesitancy. Tensions with the U.S., supply chain diversification efforts, and a struggling real estate market add to the challenges. Premier Li Qiang sees the Chinese market as an opportunity, but concerns persist about the need for active government policies.
China’s Economy Seeing Slowest Growth in Decades?
By Team Rizing
