​​A Boring 2024 For The Chinese Economy Would Be A Relief For The World

The main factor dragging down China’s growth is the plummeting return on investment.

Source : Getty

The years of China’s high growth are past, as the world painfully learned in 2023. Notwithstanding the enormous tailwinds stemming from having exited Zero-Covid policies during 2022, the Chinese economy barely made to reach the underwhelming 5% GDP growth target cautiously set by Premier Li Qiang back in March 2022. The reasons for the very slow recovery of the Chinese economy in 2023 are both cyclical and structural. On the cyclical front, China’s financial conditions have remained