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"Asia will be the main engine of growth in 2023 and 2024, whereas Europe, North America and South America will see very low growth," OECD said in its latest Economic Outlook. PARIS, Nov.
As consumer spending has gradually warmed up, China s vast domestic market has played a vital role in helping cushion the effects of any downward pressure. China has a solid foundation for further economic growth due to its large population and domestic demand, which allows the economy to remain reasonably stable in the long run.