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 Geopolitical Risks Cap Oil's Decline READ MORE The REAL Reason the South Lost the Civil War READ MORE "US Taxpayers Owe $3/4 Million Each, It's the Biggest Banana Republic of All" – Mike Maloney READ MORE How & Where to Buy Gold Coins [2024 Buying Guide] READ MORE Crude Futures Decline as Israel Holds Back from Retaliating Against Iran READ MORE Add a Comment Cancel replyYour email address will not be published.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