Tuesday, November 5

Big Banks See Slower Growth In China

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September 13, 2023— China is estimating its economic growth to average 5 percent this year. However, even that modest forecast might be rosy. Six international banks, including JP Morgan, Barclays, and UBS, have downgraded their economic forecasts for China in light of the country’s falling exports and persistent problems in the real estate sector, according to reporting by the South China Morning Post.

Estimates for annual GDP from financial institutions range from 4.2 percent to 4.8 percent. SCMP’s Ralph Jennings suggests China’s economic problems could have global ripple effects for businesses, particularly for developing countries that rely on trade with China.

The news comes at a time when economists are warning about stability in the global economy.
China's economy, Big Banks See Slower Growth In China, Global Economic Report

Patti Mohr

Patti Mohr is a U.S.-based journalist. She writes about global diplomacy, economics, and infringements on individual freedom. Patti is the founder of the Global Economic Report. Her goal is to elevate journalistic principles and share the pursuit of truth in concert with others.

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