“Choosing the Chinese market is not a risk, but an opportunity,” China’s No. 2 Li Qiang told the World Economic Forum at Davos.
Chinese Premier Li Qiang struck a bullish tone on his country’s economy during his address at the World Economic Forum’s annual meeting at Davos, Switzerland, on Tuesday.
Once predicted to roar back after Beijing dropped its strict “zero-COVID” measures a year ago, the world’s second-largest economy has had a shaky recovery amid declining exports, deflation, a housing market crisis, slowing growth worldwide, and weak domestic consumption.
Li said a broader view is needed to get a full picture of the Chinese economy, pointing out that China’s GDP grew by 5.2 percent in 2023, as reported this week by China’s National Bureau of Statistics.
Though modest compared with the astronomical figures seen over the past few decades, this figure exceeds earlier predictions by leading financial institutions and exceeded the country’s annual target of 5 percent growth.
Economists believe China must consistently meet this threshold if it’s to eventually overtake the U.
