The Washington-based institution said that it expected China's gross domestic product to rise by 4.9% in 2024 as a result of recent policy easing and stronger exports. That is up from June forecasts of 4.8% and is just shy of Beijing's own 5% growth target.
The world's second-biggest economy has struggled this year, as it continues to feel the effects of a multiyear property crisis and weak domestic demand. Beijing has tried to direct the country to more hi-tech industries to boost GDP, but there are growing fears that a rise in US tariffs when Donald Trump returns to the White House in January could further knock growth.
This story is from the December 27, 2024 edition of The Guardian.
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This story is from the December 27, 2024 edition of The Guardian.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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