China hits growth target, but consumers hold back
Marketplace Morning Report
Marketplace
4.5 • 927 Ratings
🗓️ 17 January 2025
⏱️ 8 minutes
🧾️ Download transcript
Summary
From the BBC World Service: China’s economy grew by 5% last year, beating expectations. This growth was driven by the country’s manufacturing sector, with those goods mainly heading to foreign markets. But China is still struggling to shake off a protracted property crisis, high local government debt and youth unemployment. We’ll discuss. And later on the program, we’ll hear about the economics and history of Italy’s traveling troubadours.
Transcript
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| 0:57.0 | How is China's economy really doing? Hello, this is the Marketplace Morning Report, and we're |
| 1:02.3 | live from the BBC World Service. I'm Leanna Byrne. Good morning and thanks for tuning in. |
| 1:07.6 | Now, these days, we don't often get good economic numbers out of China, but the latest is |
| 1:12.6 | that its economy grew by 5% beating expectations. So is this a sign of resilience or just a short-term |
| 1:20.6 | boost? The BBC's Surinjana Tuari is covering this one. Hello. Hi there. So, Surinjana, |
| 1:26.4 | what was driving this growth? For China, |
| 1:29.0 | it's the slowest growth in many decades as the world's second largest economy struggles to shake off |
| 1:35.2 | a protracted property crisis, high local government debt and youth unemployment. Now, the head of the |
| 1:41.5 | country's Statistics Bureau did say that China's economic achievements in 2024 were hard won. |
| 1:47.7 | And that's because the government launched a slew of stimulus measures late last year. |
| 1:53.7 | And that's really widely being credited with bringing about this sort of late boost to growth in the final three months of last year. |
| 2:03.3 | But, of course, we are just days away from President Trump coming in |
| 2:07.5 | and his proposed tariffs on Chinese goods, |
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