China Strives for 5% Growth in 2024 But Faces Economic Headwinds

China aims for 5% GDP growth in 2024 but faces headwinds like overcapacity, strained trade relations, property slump, and deflationary risks.

Stimulus so far is limited; exports of EVs, batteries, solar panels may be hampered by restrictions from US and Europe.

Private investment and foreign investment remain weak despite Beijing's charm offensive.

Focus on national security over economy and lack of reforms reduce business confidence and growth potential.

China may have to accept slower 3-4% growth as the new normal due to shrinking workforce and weak demand.