China's economic engine is running out of fuel
MADISON, Wi. - Earlier this month, the ratings agency Moody’s cut its outlook on China’s sovereign credit rating to negative, citing risks from a deepening property crisis and a prolonged growth slowdown. In fact, Moody’s now predicts that annual economic growth will fall to 4 percent in 2024 and 2025, before slowing further, to 3.8 percent, on average, for the rest of the decade. Potential growth will decline to 3.5 percent by 2030. A major driver of this slowdown will be “weaker demographics.”
Source: koreatimes.co.kr
