Financial Times

‘Boomy’ talk about the Chinese economy is a charade

Wall Street analysts are optimistic about China's GDP growth in 2023, but corporate revenues, weak earnings, and falling import rates suggest otherwise. Heavy debts and negative population growth also pose challenges.

Wall Street analysts' forecasts for China's GDP growth are above the official target and out of line with dismal news from Chinese companies.
Corporate revenues in China are growing slower than officially stated GDP in 20 of China’s 28 sectors, including consumer favourites from autos to home appliances.
Imports fell 8% in April, while China's credit growth is weakening too.
China's economic model has been based on government stimulus and rising debt, much of it pouring into the property markets.
Beijing still aims for growth of 5%, but its potential has fallen to half that due to negative population growth and heavy debts.

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