The global economy was full of surprises in 2023. Despite the sharp rise in interest rates, the US successfully avoided a recession, and major emerging markets did not spiral into a debt crisis.
Meanwhile, Chinese leaders' significant efforts to restore 5% annual economic growth face several daunting challenges. For starters, it is hard to see how Chinese tech firms can remain competitive when the government continues to stifle entrepreneurship. And China's debt-to-GDP ratio and potential issues in the real estate sector pose further obstacles.
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