Xi Jinping rings in 2024 with rare admission that China’s economy is in trouble ...Middle East

By Laura He and Simone McCarthy, CNN Hong Kong (CNN) — China’s businesses are struggling and job seekers have trouble finding work, President Xi Jinping acknowledged during his Sunday New Year’s Eve speech. This is the first time Xi has mentioned economic challenges in his annual New Year’s messages since he started giving them in 2013. It comes at a critical juncture for the world’s second largest economy, which is grappling with a structural slowdown marked by weak demand, rising unemployment and battered business confidence. Acknowledging the “headwinds” facing the country, Xi admitted in the televised speech: “Some enterprises had a tough time. Some people had difficulty finding j

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Xi Jinping rings in 2024 with rare admission that China’s economy is in trouble ...Middle East

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