Report: Asia-Pacific region holding up well despite China crisis
Edited By WION Video Desk
Published: Nov 28, 2023, 05:15 IST | Updated: Nov 28, 2023, 05:15 IST
S&P global ratings' latest economic outlook shows that the region has surprisingly held up well, even amid the global economic downturn and china's property crisis. The property downturn will continue to remain a pain point for china's economy. While growth momentum has slightly improved because of policy support, the report is not good news for china. The credit rating agency pegs china's growth at 5.4% in 2023, but it will slow to 4.6% in 2024.
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