China’s annual GDP growth averaged a phenomenal 9.09% between 1989 and 2020. Then Covid introduced volatility to the reasonably stable pace of expansion. The economy shrank 6.8% in the first quarter of 2020 before bouncing back with a giddying 18.3% hike a year later.
Even without Covid, though, growth expectations were trending down. After steady revisions, most forecasts by international commentators are now targeting annual growth of 2%-3% for the next decade...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.