The growth of Chinese economy may slow to 2% in the next decade

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The annual Capital Economics conference was held in Singapore, during which the issue of slowing growth in China’s economy was discussed. Its participants noted a change in the demographic situation in the country. Among the existing problems, they named corporate debt and household debt, as well as a reduction in labor. According to CNBC, Mark Williams, chief economist for Asia at Capital Economics, believes that China’s GDP growth rate may fall to 2% over the next 10 years. Julian Evans-Pritchard, a senior company economist in China, sees a serious problem in debt risks in the Chinese real estate market, which has arisen due to the frequent borrowing of developers to finance land purchases. He also expects a slowdown in productivity growth in the country, noting China’s relatively high share in the international export market, which requires a search for measures to stimulate domestic growth.

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