China’s economy faces deepening troubles in years ahead

Predictions that the Chinese economy would eclipse that of the US have faded. (Image: Getty)

Thu, 19 Oct 2023

By Stella Yifan Xie HONG KONG – With the property market that long fuelled China’s growth mired in a prolonged downturn, China’s economy is shifting into a lower gear.The country’s struggling economy showed some signs of life on Wednesday, with strengthening retail sales helping to drive growth to a faster-than-expected 4.9% in the third quarter.The data suggest that recent stimulus measures, including interest-rate cuts and steps to encourage home sales, have helped stabilise the economy, putting it on tr...

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