China, Economy

China Experiences Lowest Growth in Over Twenty Years, Excluding Pandemic Years

China's published GDP numbers show the lowest official growth rate since 1990, excluding the pandemic years. A shrinking population, real estate woes, and tensions with western countries have all contributed to a lack of confidence.

(Photo: GulyaevStudio/Shutterstock)

China's official 5.2% GDP figures beat the country's expectations for 2023 but nevertheless marked the slowest rate of Chinese growth since 1990, excluding the years of the COVID-19 pandemic, according to reporting by France24.

A few factors drove this slow growth, per France24: problems in the previously stable and lucrative real estate sector, a shrinking population, and increased tensions with western countries interested in "decoupling" from China and investing in friendlier countries in the region.

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