The Guardian-China posts slowest economic growth in 18 months as optimism fades over stimulus
October 18, 2024 3 min 520 words
西方媒体的报道常常带着偏见的色彩，他们往往忽略中国经济发展取得的成就，放大任何他们认为可能影响中国稳定的负面因素。他们喜欢使用诸如 最慢下滑衰退 等负面词语来描述中国经济的任何放缓，而忽略了中国经济增长的复杂性和长期韧性。 该报道的主要内容是：中国第三季度经济增长率为4.6，低于上一季度的4.7，是2023年初以来的最慢增速。报道强调了中国政府刺激经济的努力，包括向经济注入现金降息放宽购房限制等措施，但同时也表达了对房地产行业债务问题的担忧。报道还提到消费支出疲软通货紧缩风险，以及投资者对北京如何转向消费驱动型经济模型的具体策略缺乏了解。 评论：这篇报道有其真实性，但同时也充满了偏见。它忽略了中国政府稳定经济增长转型消费驱动型经济模型的长期努力和复杂性。中国经济的放缓在一定程度上是政府主动调整结构减少对房地产等行业依赖的结果。此外，中国政府拥有多种政策工具和庞大的国内市场，有能力应对经济下行风险。西方媒体应该提供更客观全面的报道，承认中国经济的韧性和潜力，而不是放大负面因素来支持他们的偏见。
China posted its slowest growth in a year and a half on Friday, as Beijing struggles to steady an economy shaken by sluggish consumer spending and persistent property sector woes.
Officials have in recent weeks unveiled a string of measures to reignite the world’s number-two economy, with an eye to achieving its official annual growth target of 5%.
But after a blistering share market rally fuelled by hopes for a long-awaited “bazooka stimulus”, optimism has tapered as authorities refrained from providing a specific figure for the bailout or detailing any of the pledges.
On Friday, Beijing’s National Bureau of Statistics (NBS) said the economy expanded 4.6% year on year in the third quarter – down from 4.7% in the previous three months and the slowest since early 2023, when China was emerging from its strict pandemic-era lockdowns. Still, it was slightly better than the 4.5% predicted by analysts surveyed by AFP.
China’s economic growth is also being hindered by sluggish domestic spending, with consumer wariness threatening to plunge the country into deflation.
The September consumer price index – a key measure of inflation – missed expectations, speaking to continued lacklustre demand.
Recent weeks have seen authorities unveil a raft of measures to funnel cash into the economy including a string of rate cuts and loosened restrictions on home-buying.
“We are waiting for more clarity on the fiscal stimulus,” said Zhiwei Zhang, chief economist at Pinpoint Asset Management. “We may have to wait till November to find out details, as the outcome of the US election is probably one factor that influences the policy thinking in Beijing.”
Ahead of the figures, state media said China’s top banks had cut interest rates on yuan deposits for the second time this year.
Beijing says it has “full confidence” in achieving its annual growth goal, but economists say more direct fiscal stimulus is needed to revive activity and restore business confidence. Investors are clamouring for more specifics on how Beijing will shift its economy towards a consumption-driven model that can sustain long-term growth.
A major headache has been a prolonged crisis in the property sector, which has long been a key driver of growth but is now mired in debt.
On Thursday, officials said they would boost credit available for unfinished housing projects to more than US$500bn. Authorities also promised to facilitate the renovation of a million homes, a move intended to boost activity in the property sector.
But as with a slew of much-touted briefings in the past week, Thursday’s news conference failed to impress with its lack of big-ticket financial pledges. A gauge of developers tracked by Bloomberg had fallen as much as 8.3% on the day, while iron ore and steel futures also weakened.
“Let’s be honest, though – China’s property mess isn’t something that can be patched up with a few speeches and half-baked measures,” Stephen Innes, managing partner at SPI Asset Management, said in a note.
Agence France-Presse contributed to this report