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AMDK say Tiongkok will have L-shape recovery at least until 2028.....no worry 48moons to go only
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BEIJING: China's economic slowdown is likely to persist in the coming years as the Asian giant struggles with sagging productivity and a rapidly ageing population, the International Monetary Fund (IMF) said Friday (Feb 2).
The world's second-largest economy last year saw some of its slowest growth in decades, as a debt crisis in the property sector added to geopolitical tensions and weakening global demand.
The world's second-largest economy last year saw some of its slowest growth in decades, as a debt crisis in the property sector added to geopolitical tensions and weakening global demand.
China economic slowdown to persist through 2028: IMF
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China economic slowdown to persist through 2028: IMF
An employee works on steel casting at a factory in Hangzhou, in China's eastern Zhejiang province on January 17, 2024. (Photo: AFP/STR)
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02 Feb 2024 05:33PM
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BEIJING: China's economic slowdown is likely to persist in the coming years as the Asian giant struggles with sagging productivity and a rapidly ageing population, the International Monetary Fund (IMF) said Friday (Feb 2).
The world's second-largest economy last year saw some of its slowest growth in decades, as a debt crisis in the property sector added to geopolitical tensions and weakening global demand.
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And an IMF report on Friday forecast growth to decline further to 3.5 per cent by 2028 "amid headwinds from weak productivity and population ageing", adding that "uncertainty surrounding the outlook is high".
It previously forecast growth of 4.6 per cent for this year.
Driving the slowdown is a years-long crisis in the country's real estate market, once a key growth pillar but now mired in debts that may threaten China's financial system.
Property giant Evergrande has become a symbol of the sector's woes, racking up astronomical debts of more than US$300 billion.
A court in Hong Kong this week issued an order that should kickstart the liquidation of Evergrande's overseas assets, though the company insisted the decision would not affect its domestic operations.
https://www.businesstimes.com.sg/in...sses-could-gain-chinas-restructuring-dpm-heng
THERE are many opportunities for Singapore businesses today to benefit from China’s economic transition, said Deputy Prime Minister Heng Swee Keat at an event on Thursday (Feb 1).
He pointed out that beyond the ongoing trade tensions and tech war with the US, the friction between China and the European Union is also brewing due to the latter’s concerns over Beijing’s subsidies for its electric vehicles, solar panels and battery exports.
“The rest of the world having a big trade deficit with China and China having big trade surpluses is not sustainable,” said Heng, who is also coordinating minister for economic policies, at a fireside chat at the UOB Global Markets Economic Forum.
THERE are many opportunities for Singapore businesses today to benefit from China’s economic transition, said Deputy Prime Minister Heng Swee Keat at an event on Thursday (Feb 1).
He pointed out that beyond the ongoing trade tensions and tech war with the US, the friction between China and the European Union is also brewing due to the latter’s concerns over Beijing’s subsidies for its electric vehicles, solar panels and battery exports.
“The rest of the world having a big trade deficit with China and China having big trade surpluses is not sustainable,” said Heng, who is also coordinating minister for economic policies, at a fireside chat at the UOB Global Markets Economic Forum.
Corrections are necessary as the economy “needs a new growth path”, he added.
“Rebalancing the economy to promote diversification and stimulate domestic consumption is the right direction.”
UOB has forecast growth of 4.5 per cent for China’s economy in 2024, with the bank noting that this outlook leans towards the optimistic side.
“Rebalancing the economy to promote diversification and stimulate domestic consumption is the right direction.”
UOB has forecast growth of 4.5 per cent for China’s economy in 2024, with the bank noting that this outlook leans towards the optimistic side.
Japanification, aging population n middle income trap will do ze tiongz in. good job trump! #maga 
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