China Posts One of Its Lowest Growth Rates in Decades

WSJ What’s News

The Wall Street Journal

Daily News, News

4.1 • 4.2K Ratings

🗓️ 17 January 2024

⏱️ 14 minutes

🔗️ Recording | iTunes | RSS

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Summary

A.M. Edition for Jan. 17. A troubled property market and weak consumer confidence dragged on China’s economy last year, leading to an expansion of just 5.2%. WSJ Asian economics reporter Jason Douglas explains whether 2024 is likely to bring more of the same. Plus, Boeing shares slide into bear-market territory amid concerns over its safety record. And proposed U.S. legislation would make it a federal crime to share digitally-altered nude images of real people. Luke Vargas hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Is your bank at home in three markets or 53?
0:05.0	With on-the-ground specialists in over 50 markets,
0:09.0	HSBC UK has been voted the leading bank for trade for the last seven years so let us help
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0:19.4	Bank to find out more. H.S.B.C. UK, opening up a world of opportunity.
0:24.5	Voted the UK's Best Trade Finance Bank for seven consecutive years by Euromoney UK Trade Finance
0:29.1	Survey 2023. 3.
0:35.0	China posts one of its lowest economic growth rates in decades.
0:40.0	5.2% looks good on paper and there are plenty of other economies that would be happy to have those kind of growth rates.
0:46.0	But the truth is that for China is just not particularly special.
0:50.0	Plus could a jump in UK inflation throw a wrench in the Bank of England's rate cut plans,
0:56.0	and Boeing shares slide into bare market territory amid concerns over its safety record.
1:02.4	It's Wednesday January 17th. I'm Luke Vargas for the Wall Street Journal
1:06.5	and here is the AM edition of What's News? The top headlines and business stories
1:11.5	moving your world today.
1:19.2	Official data from Beijing is in confirming that 2023 will be remembered as the year that China saw one of its lowest
1:26.2	levels of economic growth in decades. Despite lifting all of its COVID-19 restrictions, China couldn't escape a collapse of its property sector
1:35.6	or weakening consumer confidence, culminating in just 5.2 percent full year growth.
1:42.2	So will things be any different this year? Here for a look back and a look
1:46.2	forward on the economic situation in China is Wall Street Journal Asia Economics reporter
1:50.9	Jason Douglas.
1:52.8	Jason Beijing had set an official 5% growth target for last year,
	...

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