Making Sense of China’s Slow Growth Trajectory

(Caixin) Against the backdrop of a slumping economy, the party-run People’s Daily newspaper has once again sought answers from an unnamed “authority.” A “person in authority” told the paper in an interview published May 9 that China’s economy is on an “L-shaped” trajectory for recovery. The interviewee’s point was that neither a U-shaped nor a V-shaped line would appear on charts tracking the nation’s economic growth rate. Instead, the chart would reflect a drastic decline followed by slow yet stable growth. The message conveyed did not stray far from what analysts had previously agreed upon. Nevertheless, the interview generated a lot of discussion among economists over its timing and implications. The interview, apparently aimed at dispelling market jitters over slow […]

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Global Tourism Industry on Track for Full Recovery by 2024

The global tourism industry is set to reach, and possibly surpass, pre-pandemic levels by the end of 2024, according to the World Economic Forum (WEF). Five years post-COVID-19, the sector is experiencing a robust resurgence driven by a surge in international travel, improved air connectivity, and strong rebounds in key regions. However, global dynamics must be managed carefully to ensure stable and continuous growth. In 2023, international tourism reached 88% of its 2019 levels, a significant recovery favored by the reopening of Asian markets, as highlighted by the United Nations World Tourism Organization (UNWTO). The Middle East led the way, surpassing pre-pandemic levels by around 20%, with Europe, the Americas, and Africa following close behind at approximately 90% of their […]