While consumption held back growth in 2022, it promises to be a key driver in 2023, as households shift to spending more due to the normalization of daily life after zero-Covid.
We address some major questions for China in 2023, including China’s Covid transition, economic recovery, the new head of government, and the outlook for US-China relations.
Any meaningful improvement in US-China relations remains challenging. Congress will continue launching policy attacks on China and more selective de-coupling will take place.
Manufacturing and construction firms may face structural labor shortages due to reliance on migrant workers who are retiring and increasingly travel-averse.