A US expert who has studied China’s data and the country’s policies for addressing current economic problems refuted the notion that the economy is in trouble.
Sourabh Gupta, a senior fellow at the Washington-based Institute for China-America Studies, told China Daily that “consumption in China has been going up and has been going up on a secular line”, a key reason he believes the economy will weather any storms. He also sees room for growth, as China is largely a middle-income economy.
Gupta also projected that the Chinese economy would grow by around 5 percent in the rest of 2023 and 2024 and at least 5 percent for more than the following 10 years.
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