Mint Primer: China’s growth target: Should we be worried?

News Snapshot:

CHENNAI : By Chinese standards, the 5% economic growth projected for 2024 seems rather modest. But such is the state of its economy that most analysts do not expect it to meet even this target. Mint looks at China’s economic woes and what it portends for the global economy. Why is China’s growth forecast so low? The government’s projected economic growth rate of 5% for 2024 is almost the same as 2023 when its GDP grew by 5.2%. China’s enviable growth rates of over 10% in the early 2000s and over 7% a decade ago look like a distant dream...