The Chinese government has announced a 33-point stimulus plan to put the economy back on track.
China has been the biggest source of global economic growth for the past 20 years. And it has long defied predictions it would soon hit a wall.
But, strict COVID lockdowns, a crackdown on tech companies and a real estate slump are challenging the world’s second-largest economy’s expansion. Many financial institutions predict growth will fall well short of Beijing’s target of about 5.5 percent this year, for the first time in decades.
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