China's GDP Growth Slumps to 5-Quarter Low, Raising Concerns for Xi's Economic Strategy China’s economic growth in the second quarter of 2024 fell short of expectations, expanding by only 4.7% year-over-year, the slowest pace in five quarters. This disappointing performance is primarily attributed to weak consumer spending, which has failed to respond to government stimulus efforts. While industrial production remained robust, supporting President Xi Jinping’s focus on manufacturing and high-tech sectors, the economy faces mounting challenges. These include geopolitical risks, particularly the potential for increased U.S. tariffs if Donald Trump is re-elected. The underwhelming growth figures are likely to put pressure on Chinese policymakers to implement more supportive measures, especially to boost domestic demand, as they gather for a crucial economic meeting this week. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Treasury Traders Bet on 2024 Fed Rate Cuts READ MORE Pandora's Sustainable Shift: Embracing Recycled Precious Metals READ MORE Gold's Upward Momentum Continues Amid Global Economic Uncertainty READ MORE Copper Surges to New Highs: Key Market Facts and Future Demand Drivers READ MORE Bill Gross Urges Federal Reserve to Halt Tightening and Slash Rates to Avert Recession READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment