China’s Leaders Aren’t Sweating Growth Slowdown

With Chinese growth slowing rapidly, the biggest surprise of Thursday’s meeting of the Communist Party’s top political body was what didn’t happen: No new fiscal stimulus for juice growth; no bouncing from the Covid-19 lockdowns that have stifled investment and consumer spending; and no let-up in a regulatory campaign that has battered the all-important real estate market.

Instead, senior Chinese leaders effectively dropped their official growth target for the year, an implicit acknowledgment of the strains the world’s second-biggest economy has been facing in what has been a critical political year for the leadership Xi Jinpingwho is expected to break recent precedent and seek a third term this fall. China’s Leaders Aren’t Sweating Growth Slowdown

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