PremiumInvestors At Goldman's Global Macro Event "More Downbeat" On China Amid "Fragile Recovery" Risk
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China's economic activity accelerated faster than some analysts expected in the fourth quarter of 2024 as stimulus measures worked their way into the real economy. However, the recovery remains murky, with Societe Generale SA economists Wei Yao and Michelle Lam cautioning clients, "The recovery is tentatively sustained in a still fragile mode."
Zhiwei Zhang, president and chief economist at Pinpoint Asset Management, told clients, "The shift of policy stance in September last year helped the economy stabilize in Q4, but it requires large and persistent policy stimulus to boost economic momentum and sustain the recovery."
Friday's Chinese economic data dump comes just days before Donald Trump is set to be inaugurated as the next US president on Monday. Trump has pledged to impose additional tariffs of at least 10% on certain Chinese goods as part of his 'America First' agenda. He has also appointed prominent China hawks to key cabinet positions.