Fitch cuts its China 2021 GDP forecast to 8.1% (from 8.4%)

Fitch ratings citing the property slowdown

  • “deleveraging dynamics” weighing on recovery
  • government policy is being recalibrated
  • housing to take a toll on domestic demand, global commodities
Fitch says more broadly that challenges to EM growth in 2022 are rising.
So the world’s second-largest economy is only going to grow at 8.1%?
We are all doomed (sarcasm).
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