Analysis by Region - Asia Pacific - China

Analysis by Region - Asia Pacific - China



We maintain our 2025 GDP growth forecast for China at 4.4%, based on the latest economic developments and policy expectations. But we've adjusted our 2026-2029 growth forecasts to reflect the impact from the US presidential election. We currently assume the US will impose 30% tariffs on China starting in 2026, which could lower its annual average GDP growth to 3.7% y/y during 2026-2029 from our October baseline of 3.8%.


China: Preparing for heightened risks under Trump
Forecast overview
Recent developments
Short-term outlook
Key drivers of our short-term forecast
Economic risk
Economic risk evaluation
Risk warnings
What to watch out for
Exposure to key global risks
Long-term prospects
Background
Economic development
Structure of the economy
Balance of payments and structure of trade
Policy
Politics

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