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Global Impact: Beijing rolls out action plan after China posts disappointing economic growth
- Global Impact is a weekly curated newsletter featuring a news topic originating in China with a significant macro impact for our newsreaders around the world
- In this edition, we take the temperature of the world’s second-largest economy and looks at what can and will be done
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Wendy Wuin Beijing
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Finally, the toolbox is checked, but suspicion weighs on.
It has been a big few days for numbers, and a busy time for policymakers, as China’s economic growth disappointed.
The year-on-year headline reading of 6.3 per cent in the second quarter was the result of a low comparison base a year prior as draconian coronavirus lockdowns swept across China.
The pace was quicker than the 4.1 per cent growth in Vietnam and also outperformed China’s other major rivals.
02:31
China’s youth unemployment rate hits new high as recovery falters
China’s youth unemployment rate hits new high as recovery falters
But a sharp slowdown in sequential growth from 2.2 per cent in the first quarter to 0.8 per cent in the second warrants concern about the resilience of China’s post-Covid recovery.
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