Arthur Kroeber, author of China’s Economy: What Everyone Needs to Know, discusses the state of China’s current economy at the Center for Strategic and International Studies on September 9. “So there are a lot of problems. It’s not vibrant from a consumer standpoint. But from a productive standpoint, there’s a lot that’s going right,” he says, according to Social News XYZ.
Social News XYZ:
Key indicators reflected China’s factory output and retail sales going through their weakest growth since August last year. Retail sales have slumped, with demand at home weakening, and unemployment continued to tick up, said reports.
Industrial production rose just 5.2 per cent year‑on‑year in August, down from 5.7 per cent in July, and retail sales expanded only 3.4 per cent last month. It slipped from July’s 3.7 per cent, missing a forecast gain of 3.9 per cent.
Meanwhile, unemployment rate edged up to 5.3 per cent in August, while fixed‑asset investment grew a meagre 0.5 per cent in the first eight months – the weakest pace for that period since 2020 – and property investment collapsed nearly 12.9 per cent year‑on‑year through August.
Earlier this month, Arthur Kroeber, founder of Gavekal Dragonomics, a China-focused economic research firm, had pointed out: “You have a significant problem of persistent deflation, excess capacity in industry, declining profits, a weak job market, and a property market that’s in very poor shape.”
However, he soon added: “So there are a lot of problems. It’s not vibrant from a consumer standpoint. But from a productive standpoint, there’s a lot that’s going right.”
He was speaking at an event, hosted by the Washington-based Center for Strategic and International Studies on September 9.
Arthur Kroeber is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers’ request form.
Are you looking for more financial experts at the China Speakers Bureau? Do check out this list.
