As the world's watches China to see how their economy will perform in 2023, China comes out announcing that they are projecting 5% roughly growth and will increase their defense budget by 7.2%. They had similiar projections of 2022 but blamed the lingering effects of covid for under performing. While China is expecting economic growth, world economist are not as confident since the Ukraine-Russian war continues and interest rates continue to rise. Economist project growth to slow for 3.4% in 2022 to 2.9% in 2023. It appears that world leader's such as China and US will have to find a balance on a global level to build back the negative impact the past two years has had on the economy.
Carter Vance
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