Illustration: Chen Xia/Global Times
Last week, some international investment banks, including Goldman Sachs and Morgan Stanley, said they believe China’s vibrant manufacturing industry, driven by high-tech innovation, will offset the negative effects of the long-term economic crisis, and that China’s economic outlook for 2024 will likely increase. The forecast for growth rate has been raised to around 5%. real estate market adjustments and other temporary difficulties;
At the same time, however, there are many organizations and media experts in the West that continue to cast a shadow over China’s development. For example, rating agency Fitch last week downgraded the country’s sovereign credit outlook to negative, citing local government debt and slowing growth. It is very likely that in the coming months there will be disagreements among world organizations over predictions…
