China’s economy sees no obstacles! According to China’s President Xi Jinping, the country will remain a driving force for the global economy in the coming years. China embodies the strength of the Asian dragon!
President Xi stated that the goal of achieving 5% GDP growth in 2024 will be accomplished. This will ensure that China continues to serve as the powerhouse of the global economy, he asserted. This forecast is based on Beijing’s stimulus measures to improve the investment climate. These efforts are expected to yield positive results.
Xi Jinping made these remarks after China eased its monetary policy for the first time in 14 years in an attempt to address weak consumer demand and deflationary pressures. However, this did not boost the yield on 10-year Chinese government bonds, which sank to record lows.
Currently, Beijing is developing a contingency strategy to cushion the damage from tariffs promised by US President-elect Donald Trump. While Chinese authorities are concerned about higher tariffs, they still believe the US will cooperate with China and "promote the development of mutually beneficial relations in a stable direction."
Earlier, Xi Jinping urged the US to normalize bilateral relations and avoid a trade war, "in which there will be no winners." The Chinese leader underscored that "tariff, trade, and technological conflicts go against economic principles" and hinder effective development.
