China's National People's Congress and Economic Outlook

SOURCE www.npr.org
China's annual session of parliament starts with Premier Li Qiang projecting confidence despite risks in the economy, including a deepening tariff war with the U.S. Delegates show little fear and express belief in China's ability to weather the tariffs.

Key Points

  • Premier Li Qiang aims for economic growth of around 5% this year, same as last year
  • China faces risks in the economy due to a deepening tariff war with the U.S.
  • Measures to boost the economy include adopting proactive fiscal policy and issuing fresh bonds
  • Delegates express confidence in China's ability to offset the impact of U.S. tariffs through domestic demand expansion

Pros

  • Premier Li Qiang projecting confidence in China's economic growth amidst challenges
  • Delegates expressing confidence in China's ability to weather the tariff war with the U.S.
  • Plans to boost the economy through proactive fiscal and monetary policies

Cons

  • Analysts skeptical that the proposed measures will be sufficient to prevent slowing economic growth
  • Challenges in the Chinese economy include weak effective demand, sluggish consumption, and mounting debt