BEIJING — If China’s real estate bubble bursts and causes a financial crisis, the country’s economic growth will remain stuck at around 1%, jeopardizing its goal of doubling gross domestic product by 2035, the Japan Center for Economic Research said in a new report. .
The report forecasts GDP growth for 18 countries and regions in Asia-Pacific until 2035, with annual updates to reflect the latest policies and economic conditions. JCER released a summary of this year’s report on Monday.