BEIJING ¨C According to China¡¯s National Bureau of Statistics, the economy grew by year on year in the first quarter of 2023.
While that hardly matches the robust growth of the pre-pandemic period, it did exceed market expectations. And with the right policies, China can do even better.
There is plenty of pessimism about China¡¯s economic prospects nowadays, with many warning ¡ª not without reason ¡ª that China has entered a deflationary period. In the first quarter of 2023, China¡¯s consumer price index (CPI) rose by only ¡ª down from in the previous quarter. More striking, China¡¯s producer price index (PPI) year on year in March ¡ª its .
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