Economy
Add as a preferred source on GoogleCNBC identified overseas purchases of Chinese technology products as support amid a worsening property downturn and sluggish consumer demand.
China’s economy grew 4.6% year over year in the third quarter, with overseas purchases of its technology products helping counter pressure from property and sluggish consumer demand, CNBC reported.
The outlet described the growth rate as an acceleration and the property downturn as deepening. CNBC published its report Oct. 18.
China’s past borrowing boom has weakened its ability to revive growth through lending and government spending, Rhodium Group’s Logan Wright said. Repairing the damage would require accepting slower growth.
Xi Jinping’s continued rule could make China’s economic problems harder to resolve over the next five years and leave relations abroad unimproved, according to a Brookings Institution discussion.
China’s accumulated bad debt has weakened its ability to revive growth through lending and government spending, according to remarks at a Brookings Institution discussion.
