China's Economic Outlook for 2024 Raises Concern with 'Worst Case' Scenario Warning

China Warns of 'Worst Case' Scenario for Economy in 2024

China provides insights into its 2024 economic plans, expecting a 3% budget deficit and significant fiscal policy adjustments. The country aims for job creation, stable urban unemployment rates, and sustainable economic growth amidst challenges. Despite favorable conditions, China emphasizes the importance of planning for 'worst-case scenarios' and implementing proactive policies for stability and structural reforms.

Key Points:

• 2024 Budget Deficit: China projects a 3% deficit as part of its fiscal policy.
• Job Creation Goals: Targeting over 12 million new urban jobs in 2024.
• Economic Growth Target: Challenges noted in achieving this year's growth objective.
• Policy Adjustments: Emphasis on cross-cyclical adjustments for stability.