China’s economy has had a tough time of late. The strict lockdowns associated with the earlier zero-Covid policy and Beijing’s subsequent messy reversal saw economic growth officially come in at just 3% for 2022. The reality was probably lower.
With the economy now reopening, expectations are building that China can stage a strong recovery. The International Monetary Fund (IMF) recently upgraded its growth forecast for China to 5.2% for 2023 (from 4.4% previously). With this, China is expected to return as a key driver of growth and demand in an otherwise slowing world economy.
