[1/5] A worker sweeps a street in the Central Business District on a rainy day in Beijing, China, July 12, 2023.
REUTERS/Thomas PeterBEIJING, July 18 (Reuters) - China is entering an era of much slower economic growth, raising a daunting prospect: it may never get rich.
He expects growth to slow to 3%, which "will feel like an economic recession" when youth unemployment is already above 20%.
The April-June data puts 2023 growth on track for roughly 5%, with slower rates thereafter.
But China's annual growth averaged around 7% last decade, and more than 10% in the 2000s.
Persons:
Thomas Peter BEIJING, Desmond Lachman, year's, Wang Jun, Zheng Shanjie, Zheng, Richard Koo, Juan Orts, Xi Jinping's, Zhao, Cai Fang, Zhu Ning, Koo, Liangping Gao, Ellen Zhang, Ziyi Tang, Kevin Yao, Joe Cash, Marius Zaharia, David Crawshaw
Organizations:
Central Business District, REUTERS, American Enterprise Institute, Reuters, Communist, Huatai Asset Management, Reform Commission, Overseas, Nomura Research Institute, Fathom Consulting, Shanghai Advanced Institute of Finance, Thomson
Locations:
Beijing, China, Japan, United States, Young, Africa, Latin, U.S, Central