China’s struggle with anemic growth is prompting more observers to doubt its capacity to achieve much of a recovery this year, reports Caixin. Days after data showed the country suffering its longest deflationary streak since 2009, a survey of economists released by the World Economic Forum (WEF) in Davos revealed that none now anticipates anything more than moderate expansion this year.
“China is a notable exception as weak consumption, lower industrial production and distress in property markets weigh on the prospects of a stronger rebound in 2024,” the Forum said in its report.
The analysis is based on a survey at the end of last year among chief economists at public lenders such as the International Monetary Fund, along with counterparts at private-sector financial and corporate entities.