How India can take benefit of China's economic crisis
Defaults by Chinese borrowers have hit a record high post-pandemic, with 8.54 million individuals blacklisted from economic activities. This surge, up from 5.7 million in 2020, represents about 1% of China's working-age adults. Concurrently, China faces deflationary pressures, with consumer prices falling rapidly in November. The World Bank predicts China's economic slowdown in 2024, marking a departure from its previous status as a global growth driver. Meanwhile, India, perceived as China's replacement, must focus on consistent growth through manufacturing and exports.
Source: indiatimes.com