Retail sales outpaced investments as a driver of China’s economic growth in the first quarter
HONG KONG—For years, economists have warned that China’s economy suffered from an imbalance that made its rapid growth unsustainable. The country was too reliant on investments and didn’t have enough consumer spending.
On Tuesday, China reported numbers that showed consumer spending was playing a stronger-than-expected role in driving its recovery after the country lifted its stringent zero-Covid measures. The big question is whether it will last.
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