China's Economic Comedown: Growth Struggles to Rebound as Headwinds Mount
• China's economy struggling to rebound to pre-pandemic levels; GDP growth forecasted to decelerate to 4.1% in 2024 • Pent-up demand drove recent uptick in consumption, but not sustainable long-term • Real estate slump structural and permanent; sector unlikely to rebound as key growth driver • Global economic slowdown to dampen foreign demand for Chinese exports • Major stimulus limited due to risk of triggering economic inefficiencies; only small targeted measures feasible