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 Gold and Silver Surge as Investors Eye Iran-Israel Tensions READ MORE Inflation Is Down but Don't Thank the Fed READ MORE ECB Hints at Future Rate Cuts, Distances Policy from U.S. Federal Reserve READ MORE U.S. Economy Triumphs: U.S. Growth During a Global Slowdown READ MORE Political Uncertainty Drives Britons to Gold, Reports Royal Mint READ MORE Add a Comment Cancel replyYour email address will not be published.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