China’s economy ended 2023 with a patchy post-pandemic recovery, but ended up slightly better than expected Growth rate 5.2%. But as deflationary pressures mount, doubts about the world’s second-largest economy persist, and whispers of what lies ahead have quietly begun to dominate conversations among economists and policymakers.
Although the economy showed some signs of recovery in 2023, major economic indicators point to a sustained decline, including the consumer price index (CPI) growth rate at its lowest level in 23 years. Prices have not improved accordingly. This has further deepened concerns about deflation and led to calls for more supportive policy measures.
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