In a year of major elections setting the course of many countries for years to come, China’s ruling Communist Party is holding top-level meetings in Beijing to draft policies for reviving its slowing economy.
A man transporting recycle item pass by the Drum Tower at Gulou East Street in Beijing , China , Tuesday, July 16, 2024. China ’s ruling Communist Party is starting a four-day meeting Monday that is expected to lay out a strategy for self-sufficient economic growth in an era of heightened national security concerns and restrictions on access to American technology. Chinese women look at her phone at Shichahai lake pub area in Beijing , China , Tuesday, July 16, 2024.
While those problems are mostly domestic headaches, the health of the world’s second-largest economy has an impact way beyond its borders, affecting business activity, financial markets and job opportunities across the globe.China, Russia start joint naval drills, days after NATO allies called Beijing a Ukraine war enabler
Given the vital role housing plays in household wealth, “We expect retail sales will remain weak without fundamental improvement in the property sector,” Raymond Yeung and other economists at ANZ Research said in a report. Xi has promised “strategic, innovative and leading reforms,” Xinhua said, to “achieve new breakthroughs in important areas and key sectors.”The Rhodium Group estimates that China’s manufacturing trade surplus increased by $775 billion in 2019-23. The biggest impact was on advanced economies, like the United States.
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