Money

China’s economy is on the brink

Published

2 years ago

January 17, 2024

China’s gross domestic product expanded by 5.2% in the fourth quarter of 2023, with the same growth rate maintained throughout the entire year.

The announcement from China’s Bureau of Statistics confirmed Premier Li Qiang’s recent disclosure at the World Economic Forum in Davos, making it an unusual pre-release of such a critical data point.

However, when excluding the pandemic years when China’s economy was closed to the world, 2023 marked the slowest annual growth rate since 1990, following the aftermath of the 1989 Tiananmen Square student movement.

Lockdown hangover

Comparatively, in 2022, China’s economy had grown by 3%, while the initial year of the Covid-19 pandemic in 2020 saw growth of just 2.2%.

The 5.2% growth rate in 2023 surpassed the government’s official target of around 5%, which came after a year of economic volatility and shifting expectations.

Maintaining a similar growth pace this year may pose a greater challenge, as policymakers have been hesitant to implement substantial stimulus packages.

FILE PHOTO: Containers are seen at the Yangshan Deep Water Port in Shanghai, China, as the coronavirus disease (COVID-19) outbreak continues, October 19, 2020. REUTERS/Aly Song

Growth target

Forecasts for China’s growth rate in the upcoming year among various global investment banks range from 4% to 4.9%. The formal growth target for this year is expected to be announced during an annual legislative session scheduled for March.

In the short term, China faces a lack of apparent growth drivers.

Export demand is weakening in anticipation of a global economic slowdown.

Chinese households, affected by years of pandemic restrictions and receiving no direct financial support from the government, have become cautious spenders due to a weak job market.

Private businesses have delayed new investments, while foreign investors are withdrawing funds from the country.

While China’s leadership is committed to cultivating new growth engines in sectors like electric vehicles and renewable energy, these initiatives may not be sufficient in the short term to compensate for job creation shortfalls and the overall decline in the real estate sector.

Money

Australian Dollar surges: What $0.70 means for markets

Australian dollar surges 5% to $0.70, impacting importers, exporters, and big miners amid rising interest rates.

Published

2 hours ago

February 18, 2026

Harvey Vargas

Australian dollar surges 5% to $0.70, impacting importers, exporters, and big miners amid rising interest rates.

The Australian dollar has jumped more than 5 percent against the U.S. dollar this year, now trading around $0.70. This rapid rise has sparked mixed reactions for importers and exporters as Australia’s materials sector shows signs of bouncing back, despite concerns over rising interest rates.

Dale Gilham from Wealth Within breaks down the factors behind the AUD surge, the implications for commodities, and what it means for big miners like BHP. From profits to strategy, we explore how the market is reacting to this currency shift.

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#AustralianDollar #AUD #Forex #Investing #Commodities #BHP #Mining #Markets

Money

S&P 500 rises as financial stocks lead and tech slips

S&P 500 rises 0.4% thanks to financial stocks; software struggles amidst AI concerns. Subscribe for updates!

Published

2 hours ago

February 18, 2026

Harvey Vargas

S&P 500 rises 0.4% thanks to financial stocks; software struggles amidst AI concerns. Subscribe for updates!

The S&P 500 climbed 0.4% on Tuesday, boosted by strong gains in financial stocks. Citigroup and JPMorgan led the rally, showing investors are rotating money into the sector as tech stocks faltered.

Meanwhile, software shares struggled, with ServiceNow, Autodesk, and Palo Alto Networks all seeing notable declines. Concerns around AI disruption continue to affect the software and financial sectors alike.

Market watchers are now turning their attention to upcoming inflation reports later this week, looking for signals that could shape the next moves in the market.

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Money

Australia’s GST debate heats up amid tax reform push

Australia debates GST expansion amid aging population pressures and personal income tax concerns; expert insights from Dr. Steven Enticott.

Published

22 hours ago

February 17, 2026

Harvey Vargas

Australia debates GST expansion amid aging population pressures and personal income tax concerns; expert insights from Dr. Steven Enticott.

Australia is facing a fierce debate over tax reform, with fresh calls to broaden the Goods and Services Tax as the government searches for more stable revenue streams. With an ageing population putting pressure on health, pensions and long-term spending, economists argue the current reliance on personal income tax may not be sustainable.

Dr Steven Enticott from CIA Tax joins Ticker to break down the real impact of expanding the GST, including how it could affect lower-income households, whether taxing unrealised gains would change investor behaviour, and what compensation mechanisms could soften the blow on essential goods. The political risks are high, but so are the fiscal stakes.

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