Lol - from the South China Morning Post sourced from the China Academy of Science. I have a hard time accepting this as anything beyond attempted good PR. I wonder how this squares with the demographic and real estate issues China is facing.
CAS routinely overestimates but the World Bank routinely underestimates.
So it goes.
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Friendly reminder that the World Bank was projecting 4.3% GDP growth for 2023 in December 2022 and raised that to 5.2% by December 2023.
CAS was projecting 6% for 2023 in December 2022.
The final IMF estimate was 5.4% for 2023.
My estimate is that China will just barely squeak 5% GDP growth this year off of the real estate bubble having been mostly deflated already while EV and green energy exports shoot up.
Hopefully, the Chinese economy in particular and the world’s economy in general will grow by 2024 so everyone can play https://removed