China's Government Spending Drops, Impacting Economy

Chinas government spending plummets in October, marking the steepest decline since 2021, with a 19% drop to 334 billion USD. This shift in policies impacts investment and economic growth, as new stimulus measures take time to show effects. Despite slow consumer spending and weaker international demand, Chinese authorities prioritize managing debt risks, aiming for a growth target of around 5% for this year.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.