Forecasters polled by Bloomberg have slashed their growth outlook for China.
The country is battling deflation, soaring youth unemployment, and a property-market crisis.
Policymakers cut stamp duty taxes Monday – but are yet to roll out a "big bang" economic fix.
China's economy expanded 6.3% over the second quarter of 2023, falling well short of forecasters' expectations, while the country is also battling deflation, record youth unemployment, and a severe real-estate crisis.
"As its economy continues facing downward pressures, its growth momentum might slow down further, in turn exacerbating the already significant pressures that the global economy is facing."
Persons:
They're, Joe Biden, Alfredo Montufar, –
Organizations:
Bloomberg, Service, China Center, Conference Board
Locations:
China, Wall, Silicon, Beijing