China’s Push for 7% Growth Faces Big Challenges

Amid ongoing domestic and international concern over the scale and sustainability of China’s economic rebound from its Covid years, Beijing announced on 9 December that it will adopt an “appropriately loose” monetary policy next year, the first such easing in 14 years, and a more proactive fiscal policy to boost economic growth. Although the measures already put into place earlier this year should enable China to achieve its growth target of “around 5%” for 2024, these new measures are aimed at recapturing the 7%+…