- Ratings downgrade
- EV exports growth
It already feels like a long time ago that the Chinese dragon was roaring. Foreign investors are fleeing the world’s second-largest economy, with the country embroiled in issues ranging from a property market slump to record youth unemployment. This is all contributing to a highly uncertain outlook for 2024.
The latest news for those who retain the faith hasn't been promising. Credit rating agency Moody’s cut its outlook on China’s government credit rating from stable to negative in December, pointing to “increased risks related to structurally and persistently lower medium-term economic growth and the ongoing downsizing of the property sector”. Elsewhere, manufacturing activity has fallen for two months in a row and industrial growth has slowed.