Goldman Sachs with the deep cut to their forecast for China's economic growth next year.
GS were looking for +5.3% in 2023
Down to a projection of 4.5% now.
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China's economy is facing numerous headwinds, pretty much all of which can be traced back to poor priorities and policy choices:
- zero covid
- collapsing debt-disaster property sector
- flinging missiles at Taiwan to distract the populace
- the single-minded pursuit of power by President Xi, seeking an eternal presidency regardless of the costs
