Key Points
New Delhi [India], March 26 (ANI): Chinas GDP growth is poised to slow to 4.6 per cent in 2024 from 5.2 per cent in 2023, said S&P Global Ratings, backing its argument that its forecast takes into account the continued strain from property weakness and modest macroeconomic policy support...
According to the global rating agency, the key risks in the Chinese economy are weakness in its property market and consumption, which it argues could lead to lower growth...
The country reported 5.2 per cent year-on-year real GDP growth in the fourth quarter and for the year as a whole...
This weakness affects the broader economy via backward and forward linkages, as well as confidence and wealth effects (from falling housing prices), the rating agency argued.. Further, Chinas 5 per cent growth target for 2024, which its National Peoples Congress announced at its meetings in early March, is ambitious, S&P Global Ratings said...
For Asian emerging market (EM) economies, S&P Global Ratings projected robust growth, with India, Indonesia, the Philippines, and Vietnam in the lead..
