China’s economy grows 4.9% in third quarter
China’s economy grows 4.9% in third quarter
Expansion beats forecasts and comes after Beijing has tried to stabilise the property and banking sectors
It is pay wall, did not find alternative, so posting other sources on subject:
https://www.globaltimes.cn/page/202310/1300068.shtml
https://news.yahoo.com/chinas-third-quarter-economic-growth-021703776.html
Congratulations China! I’m hopeful the US can be collaborative competition!
Western analysts really aren't doing too hot when talking about China's economy recently. China's on track to hit their target 5% growth this year.
To push China towards its annual growth target of 5 per cent — already the lowest in decades — Beijing has in recent months tried to stabilise the property and banking sectors and shore up support for the country’s stock market and renminbi.
Alicia García-Herrero, chief Asia-Pacific economist at Natixis, said the breadth of the stabilisation measures showed Beijing was responding to “cracks” emerging in the financial system.
“Mild growth of 5 per cent for the year won’t be enough, it seems to me, to cover those cracks,” she said, adding: “If the world goes in the wrong direction . . . it is going to be very difficult for China to avoid those cracks getting deeper.”
5% growth is low for China.
their real estate sector isn’t doing well either https://archive.ph/mmHzw
The greed of western CEOs for more profit allowed china to seize the means of global production.
But they if we could tab the energy of Marx rotating in his gave we could solve the energy crysis.
Yay, chinese capitalists are winning over western capitalists.
Yet Western nations have far more wealth and while not perfect, have far better safety nets.