What new normal of slower Chinese growth could mean for the global economy

Norman Ray

Global Courant

A view of tall buildings along the Suzhou Creek in Shanghai, China on July 5, 2023.

Yingtang | NurPhoto | Getty Images

The Chinese economy could face a prolonged period of lower growth, a prospect that could have global repercussions after 45 years of rapid expansion and globalization.

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However, these were largely broad measures without some major details, and the latest reading of the quarterly meeting of the Politburo on economic affairs was mild, but fell short of major new announcements.

Julian Evans-Pritchard, head of China’s economics at Capital Economics, said in a note Monday that the country’s leadership is “obviously concerned,” with the readout calling the economic trajectory “tortuous” and highlighting the “numerous challenges facing the economy.”

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