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The collapse of the property and construction bubble has weakened domestic economic confidence, deepening the unemployment crisis and posing major challenges to local government budgets.
The economy was already stagnating well before Covid hit. Xi’s Belt and Road initiative, which contained Davos-friendly plans for economic globalisation, also harboured more strategic ambitions.
China has rolled out a number of stimulus packages in a bid to revive its ailing economy, which has struggled in the aftermath of the pandemic. However, a crisis in the property industry and...
(Bloomberg) -- China’s leaders are aiming for economic growth of around 5% this year, an ambitous goal given sluggish consumer spending, a global backlash against Chinese goods and a still shaky property market.
China's economy weakened further in recent weeks, surveys released Monday showed, signaling the need for support as the government ratchets up stimulus. The Caixin purchasing managers survey...
China’s sputtering economy is forcing its leaders to pull out all the stops. While the surveys were of a nationally representative sample aged 20 to 60, getting access to a broad range of...
The entirely state-controlled media ran constant reports on China’s economic progress and social stability, with no mention of challenges ranging from a declining birth rate to the disruption in supply chains that has harmed the largely export-driven economy.