GDP growth; Population declines; US-China; Liu He hits the right notes for Davos; TikTok
Summary of the Essential Eight:
2022 GDP growth - 2022 GDP growth officially hit 3.0%, below the target of 5.5% growth set last March, but the Q4 growth was better than expected. The Q4 data may be another sign that the economy will grow faster out of the Covid reopening.
Population declined in 2022 - The PRC’s population declined for the first time since the end of the Great Leap Forward. The drop is not a surprise, though it came earlier than most people assumed it would even a few years ago. To date none of the policies to spur more births have gotten traction, and it is unlikely they will, even if the government rolls out a lot more incentives. India now is likely to world’s most populous nation.
Liu He at Davos - In his speech at Davos, outgoing Vice Premier Liu He reiterated the key economic themes of the 20th Party Congress and the December Central Economic Work Conference, but with a demeanor and concision that went over well with the audience. Liu He knows how to…