The world’s largest economies, China and the United States, are showing signs of resilience.
The governor of the People’s Bank of China said this week China will achieve its GDP growth target of about five-percent in 2023 and will maintain healthy and sustainable growth in 2024 and beyond.
In the United States, the Commerce Department announced the U.S. economy grew by 5.2-percent from July through September, faster than expectations. Interest rates remain at a 22-year-high, as the U.S. Federal Reserve works to slow the economy and lower inflation.
- Yan Liang is Chair Professor of Economics at Willamette University.
- John Quelch is a Professor with the Herbert Business School at the University of Miami.
- Anthony Chan is a former Chief Economist with JPMorgan Chase and Company.
- John Gong is a Professor of Economics at the University of International Business and Economics in Beijing.
China's economy has, on the whole, continued to gain momentum in recovery, and is expected to achieve the 5 percent growth target for the whole year, People's Bank of China (PBOC) governor Pan Gongsheng said Tuesday. https://t.co/ccFRNsw6wB pic.twitter.com/0OgvrXyEzq
— China.org.cn (@chinaorgcn) November 29, 2023
New economic data shows that the US economy is cooling.
Here's what that means for Joe Biden plus other things that happened in Washington this week. @gardnerakayla has all the details.
— Bloomberg (@business) December 1, 2023