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Friday 6th September 2024
Please note this communication is not a research report and has not been prepared by NAB Research analysts. Read the full disclaimer here.
China won’t achieve its 5% growth target this year. Yan Wang, Chief Emerging Markets & China Strategist at Alpine Macro, says the forward indicators show it won’t happen. So, what next for China? Yan says a shift in government policy is needed. Their focus has been on developing new, higher income sectors, such as EV manufacture. That makes perfect sense. But there’s no support on the demand side of the economy, which is languishing under low confidence levels, less spending and a shrinking money supply. All that can be turned around, but that takes a change in thinking from Beijing.
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