China's Faltering Economy Casts Shadow over Global Growth Outlook
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China's economy is showing cracks with declining home prices, consumer spending, and growth. This could export deflation globally.
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Christophe Barraud, named the world's top economic forecaster, predicts more defaults in China's property sector and no improvement until end of 2023.
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Slowing population growth, investor outflows, and US-China tensions could exacerbate China's economic issues in the medium-to-long term.
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China is implementing accommodative monetary policy, like liquidity injections and rate cuts, to contain deflation. More fiscal stimulus is likely needed.
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China's growth will likely slow in 2023, possibly to around 4.5%, below consensus forecasts. Upside surprises are unlikely.