Title : How Bad Is China's Economy?
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How Bad Is China's Economy?
Karishma Vaswani, BBC: How bad are China's economic woes?
While economists say China's economic data can't always be trusted, they now have a new dilemma - there is no data.
On Friday, China said it wouldn't be setting a target for economic growth for this year.
That's unprecedented - the Chinese government hasn't done this since it began publishing such goals in 1990.
Abandoning the growth target is an acknowledgement of just how difficult a recovery in China will be in a post pandemic era.
And while recent figures have shown that China is on the way out of its slowdown: it's an uneven recovery.
First, the good news.
For the first time since the pandemic hit China - factories are making goods again.
Industrial output in April grew by a better-than-expected 3.9% - a marked difference from the collapse of 13.5% in the first two months of this year as massive lockdowns were imposed.
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WNU Editor: China's economy is coming back to pre-Covid-19. But the above BBC report is saying the same thing that my friends and contacts in China are telling me. Business is coming back, but it is not a normal return.
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