China's Economic Slowdown Sparks Calls for Increased Stimulus

China's economy grew by 4.7% in Q2, missing expectations and marking its slowest growth since early 2023. A prolonged property downturn and job insecurity hindered recovery, pushing retail sales to an 18-month low. Analysts suggest more stimulus is needed, with Goldman Sachs lowering its 2024 growth forecast to 4.9%. Key issues include falling property prices and low wage growth, impacting consumer confidence and spending. The government aims for 5% growth this year, but achieving this may require significant policy adjustments.