China Faces Economic Headwinds in 2024 as Weak Demand and Deflation Pressure Growth
• China facing weak domestic demand and deflation in 2024, making it tougher to boost growth • Data shows declining consumer prices, flat import growth, slowing lending • Economists doubt monetary easing will be enough due to low confidence, struggling property sector • Fiscal stimulus needed but may be limited by tighter local government finances • Adds to global economic risks like lower Chinese demand for goods, persistent export price declines