The International Monetary Fund has slightly downgraded its July projection for China's annual economic growth to 4.5% amid higher crude prices, prolonged uncertainty and structural headwinds. (AFP pic)BANGKOK: China's economy likely grew at a slower pace than the government's target in the third quarter (Q3), an AFP survey of analysts shows, as energy, geopolitical and debt crises stoke fears of a global downturn.
Leaders in Beijing have struggled for years to reverse a stubborn slump in the once-booming real estate sector, which has dampened consumer confidence and weighed on overall activity.
The stagnation has coincided with several major shocks on the global economy, including the Covid-19 pandemic, recurring trade rows and multiple wars.
