Barring a “black swan” event, China can achieve 6 percent GDP growth this year, argues a top Chinese economist.
A summit titled "Promoting the Integration of the Digital Economy and the Real Economy" held during the China Development Forum, March 25, 2023. Credit: China Development Forum
According to China’s National Bureau of Statistics, the economy grew by 4.5% year on year in the first quarter of 2023. While that hardly matches the robust growth of the pre-pandemic period, it did exceed market expectations. And with the right policies, China can do even better.
There is plenty of pessimism about China’s economic prospects nowadays, with many warning – not without reason – that China has entered a deflationary period. In the first quarter of 2023, China’s consumer price index (CPI) rose by only 1.3% year on year – down from 1.8% in the previous quarter. More striking, China’s producer price index (PPI) fell by 2.5% year on year in March – its sixth consecutive month of decline.
This is not a new trend. In fact, China’s PPI has been negative for the better part of the last decade. Beginning in March 2012, China’s PPI was in negative territory for 54 consecutive months. In January 2019, it turn
Exclusive longform investigative journalism, Q&As, news and analysis, and data on Chinese business elites and corporations. We publish China scoops you won't find anywhere else.
A weekly curated reading list on China from David Barboza, Pulitzer Prize-winning former Shanghai correspondent for The New York Times.
A daily roundup of China finance, business and economics headlines.
We offer discounts for groups, institutions and students. Go to our Subscriptions page for details.
A long line of multinationals are now knocking on India's door. But if there's any chance of them successfully diversifying away from China's highly skilled workforce and well-oiled logistical machine, they'll need to learn from the industries that came before them.
The former Defense Secretary under George W. Bush and Barack Obama talks about Xi Jinping's relations with the PLA, Taiwan and how the U.S. should deal with China and Russia.
The Global Intelligence Platform used by The Wire China
