Chinese economy at risk of deeper slowdown than many realise


Source: techcentral.co.za techcentral.co.za

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China’s economy risks slowing faster than investors realise as President Xi Jinping’s push to cut its reliance on real estate and regulate sectors from education to technology combine with a power shortage and the pandemic. Bank of America and Citigroup are among those sounding the warning that expansion will fall short this year of the 8.2% anticipated by the consensus of economists. The slump could last into next year, forcing growth below 5%, they warn. Outside 2020’s 2.3%, that would be the weakest in three decades. Strategists at Bank of America muse that Xi may even be embracing a once-in-two...