China’s future ‘still uncertain’, Kevin Rudd says, as he casts doubt on its economic figures
London: Former prime minister Kevin Rudd has questioned whether China’s economic growth figures reported for 2022 are accurate.
China reported that its annual gross domestic product growth slumped from 8 per cent to 3 per cent last year.
his constituted its second-weakest economic performance in 50 years and was a direct result of Beijing’s decision to pursue a zero-COVID strategy, which President Xi Jinping suddenly abandoned earlier this year.
Rudd said the result was a best-case scenario, but possibly exaggerated.
“China obviously had no choice, zero-COVID was not working for China’s growth numbers, the 2022 growth numbers were at best 3 per cent, possibly less,” he said.
“We do expect now a bounce back, the official numbers are probably around five [per cent].
“I’m expecting a solid growth number for 2023, that’ll be good for China and importantly in a world where growth will be challenged with Europe facing recessionary challenges and the United States – a question mark, in terms of how soft or hard the landing will be. And the rest of the world, the developing world, struggling.
“If China produces a solid growth number for 2023, 5 or 5-plus, that will actually underpin much global growth for the year to come.”
Find the entire article about on The Sydney Morning Herald.