China’s Economy Seeing Slowest Growth in Decades?

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.

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