Global Times tabloid highlights the strong internal dynamics of China's economy

<p>Popular media in China (Global Times tabloid) with an upbeat report on the data from China earlier. The newspaper doesn't have much time for non-Chinese media:</p><ul><li>Despite factors including a slowdown in the real estate industry, China’s economy emerged from the shadows of the pandemic over the past 12 months, achieving a remarkably steady growth, and refuting the continuous attempts by certain foreign media outlets to paint a negative picture of China's economic recovery</li><li>robust GDP growth of 5.2 percent for 2023, successfully beating the government’s pre-set yearly target of around 5 percent</li><li>strong internal dynamics of the world’s second-largest economy … continuing to drive global resurgence</li></ul><p>Despite the Q4 data missing estimates, GT report:</p><ul><li>standout performance in the fourth quarter, growing 5.2 percent between October and December</li></ul><p>To be fair, a 5.2% growth rate for the year, if that's to be believed, is a good performance. </p><p>—</p><p>The data ICYMI:</p><ul><li><a href="https://www.forexlive.com/news/china-q4-2023-gdp-52-yy-20240117/" target="_blank" rel="follow" data-article-link="true">China Q4 2023 GDP 5.2% y/y</a></li><li><a href="https://www.forexlive.com/news/china-december-industrial-output-68-yy-exp-66-retail-sales-74-exp-80-20240117/" target="_blank" rel="follow" data-article-link="true">China December industrial output +6.8% y/y (exp +6.6%) Retail Sales +7.4% (exp +8.0%)</a></li></ul><p>As a ps., and what's keeping me honest, here's Australia's Q3 GDP result (the latest available):</p><ul><li><a href="https://www.forexlive.com/news/australian-q3-gdp-02-qq-vs-expected-04-20231206/" target="_blank" rel="follow">Australian Q3 GDP +0.2% q/q (vs. expected +0.4%)</a></li></ul><p>This popular pic is captioned the other way 'round for China </p>

This article was written by Eamonn Sheridan at www.forexlive.com.