Hopes for a booming economic rebound from the COVID-19 pandemic have not materialized for China, leading some forecasters to slash growth expectations for the manufacturing hub.
The early stages of China’s rebound from the
“We were always skeptical of the narrative that China’s reopening would save the global economy this year,” he wrote. “So far, there isn’t much proving us wrong.” Real estate, including the housing market, construction and furnishings, makes up about 25 per cent of China’s gross domestic product, Woo tells Global News.
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