Posted 1/17/2024, 4:26:24 AM
China's Economy Grows But Faces Uncertain Path Amid Property Woes, Demographic Decline
- China's GDP grew 5.2% in 2023, meeting the government's target, but recovery remains uneven amid property crisis and weak demand
- Exports fell in 2022 for the first time since 2016; geopolitical tensions and companies diversifying supply chains hurt growth
- Population declined for 2nd straight year due to record low births and COVID deaths after zero-COVID policies lifted
- Unemployment hit record levels, especially among youth where 1 in 5 aged 16-24 were jobless in May 2022
- Government remains bullish on economy, premier Li Qiang touting China's development potential, but risks persist in Xi era with clampdowns