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ECONOMIC OVERVIEW
June 2023
China’s Recovery Looking More Precarious
While China’s economy expanded 4.5% in the March quarter, boosted by its reopening, recent signs suggest the revival is ebbing. The property boom and government overinvestment that fuelled growth for more than a decade have ended. Enormous debts are crippling households and local governments. The big hope of consumer-led growth remains out of reach.
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