China prepares economic support measures as Trump returns to presidency
China is preparing to announce new measures to support its struggling economy as Donald Trump returns to the presidency. Trump’s platform includes high tariffs on Chinese goods, which could complicate China's plans for economic transformation and worsen U.S.-China relations.
China's economy has faced challenges, including a property slump and low consumption, leading to slower growth since the pandemic. The International Monetary Fund has lowered its growth forecast for China to 4.8% in 2024, below Beijing's target.
Despite these challenges, China has made strides in high-tech manufacturing, becoming a leader in solar panels and electric vehicles. However, increased tariffs from the U.S. and Europe may hinder China's export growth and economic recovery efforts.