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this post was submitted on 07 Feb 2024
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This is the best summary I could come up with:
While the stock markets have tanked, with losses widening earlier this week to some $7 trillion from their peaks in 2021, economic statistics are not all uniformly gloomy.
Despite this, Beijing didn't quite fix its fundamental problems and was instead pulling other moves like wooing foreign investment and threatening those critical of its flailing economy.
Chinese leader Xi Jinping said on New Year's Eve that the country's economy is "more resilient and dynamic than before," even as he acknowledged that some businesses were having a "tough time."
Rhodium Group's researchers aren't quite sure about the rosy narrative of China's economy, calling it a "politicized picture of economic activity."
Even though Beijing claimed China outperformed its GDP growth target of 5%, authorities were still in "a running battle to roll out extraordinary support measures," Rhodium wrote.
At the end of the day, official Chinese statistics haven't "conceded this reality" of a loss in market confidence and economic troubles, they wrote.
The original article contains 457 words, the summary contains 159 words. Saved 65%. I'm a bot and I'm open source!