The Chinese government has suppressed information about Covid s domestic impact since 2020. This is a major driver of the country s economic stagnation.
China s GDP at the end of 2023 increased by 5.2% year-on-year to $17.698 trillion, which is above the official forecast, data of the Chinese National Bureau of Statistics showed on Wednesday.
Asian financial markets brace for Chinese GDP figures on Wednesday, the key number in a batch of Chinese indicators to be released as investors also try to navigate a heavy flow of global economic, market and geopolitical cross currents. Wall Street closed flat to slightly lower on Tuesday, after forecast-busting U.S. retail sales data stoked expectations for another Fed rate hike by year-end and pushed Treasury bond yields sharply higher. This was set against some upbeat Q3 results from Wall Street giants like Bank of America, although chipmakers fell after the U.S. government said it planned to halt shipments of advanced artificial intelligence chips to China.
China s annual GDP growth rate plunges down to levels not seen since the height of the pandemic. Many factors are contributing to slower growth and instability.
World News: The Chinese economy needs a reboot and President Xi Jinping realises that a command and control system that he favours does not work well with the pri