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Heading into 2024, China is already in a recession across the board. There has been a slump in exports, almost stagnant growth in domestic demand, a significant drop in total manufacturing output and sales, a nearly collapsed real estate sector, and a variety of slumps in most service sectors. February 10, 2024, was the Chinese New Year, and the Chinese mainland was on holiday for 8 days. As the holiday wrapped up, consumption data came out, with officials boasting of an active and bustling domestic consumer market. Is this really the case? In this episode, we'll find out if China's economy is starting to pick up or if it's heading for a recession.
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