China's faltering economy, with falling home prices, slow industrial output, and rising unemployment, puts pressure on the government to meet its 5% growth target.
China's faltering economy, with home prices falling at their fastest rate in nine years, industrial output slowing, and rising unemployment, puts pressure on the government to hit its 5% growth target. Policymakers consider implementing measures like cash vouchers for consumers and widening the budget deficit to 4% from the planned 3%. Analysts suggest that a focus on manufacturing and exports is not enough, and domestic demand support is necessary. However, skepticism exists over the success of voucher programs as a long-term solution, with experts believing that economic recovery relies on property and stock market recoveries.
August 19, 2024
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