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Will Xi Fire the Stimulus Cannon?
307 Views14 Aug 2023 13:36
SUMMARY
- The Chinese Politburo, executive committee of the CCP, gathered for their quarterly meeting on economic affairs on July 23rd.
- While the readout from the meeting suggested that the CPP remained confident that China would reach its relatively modest target of 5% GDP growth for 2023, the tone was markedly more pessimistic than April’s meeting.
- With sluggish domestic demand and youth unemployment surpassing 20%, last week’s readout was noticeable for admitting to “new challenges” for the Chinese economy.
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