Posted 1/18/2024, 6:08:55 PM
China's Economic Growth Slows in 2022, Weighing on Global Recovery
- China's official GDP growth rate of 5.2% in 2022 may be overstated; some economists estimate actual growth was closer to 3%
- Exports from China fell 4.6% last year; exports to the US dropped 13.1%
- China needs to shift from an export-driven to a domestic consumption economic model
- Slowing Chinese growth will weigh on the global economic recovery from the pandemic
- As the West pulls back aid from developing countries, China is stepping in to build ties through its Belt and Road Initiative