More ‘unconventional moves’ needed to boost China’s economy: Economist

China’s economy is showing some signs for concern after key data was released on Monday (Dec 16) for the month of November. Retail sales, a gauge of consumption, grew just 3.3 per cent last month, much slower than a 4.8 per cent rise seen in October. This prompted the government to promise more policies to boost domestic demand. The world's second largest economy has been contending with pressure from multiple fronts this year. Hao Hong, chief economist at Shanghai-based GROW Investment Group, tells CNA’s Asia Now about his concerns over the data and what stimulus measures he is expecting.

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[ArabicReja]

Chinese property sector, which accounts for 30% of GDP, is crashing.
- Exports and imports, accounting for 37% GDP, are down.
- Foreign investment (FDI) is falling over 90%, lowest in 3 decades.
- Foreign visitors are down 96% compared to the 2019 pre-pandemic level.
- Consumer prices are experiencing deflation.
- Youth unemployment hits over 21%, a record.
- Its fast-shrinking workforce is 10 years older than neighboring countries.
*Still, China keeps reporting outrageous GDP numbers.* Lol
Where does the growth come from?

[dashong]

CNA seldom has anything good to say about China's economy.

[Buttercookies]

When a nation is not spending, what economy are we talking about?

[liar-liar]

Looks like the US Israel sanctions and tariffs do work 😂😂😂

[angeluscorpius]

"Unconventional" translates to "risky", "untested", and extreme. For a conservative govt like the CCP, it is anathema. Can the CCP act unconventionally? It would be risky, untested and unproven. Not the CCP's cup of tea.

[ntxoovyiasyaj-jerry]

China will change into complete service economy when you ask an elementary student if they cannot find foods for their family and they answer they will protest their government.

[redmigeeold]

See what ChatGPT has to say about China's continual growth.

China's Economic Outlook for 2025:
Growth Rates: China's GDP growth is expected to moderate, potentially around 4-5%

U.S. Economic Outlook for 2025:
Growth and Resilience: The U.S. is forecast to maintain moderate GDP growth, likely in the range of 1.5-2.5%