China Braces for Challenging 2024 Amid Economic Struggles and Geopolitical Tensions

Despite the challenges, the country is expected to strengthen its global influence, particularly in the Global South, while also prioritizing climate resilience.

• China is expected to face a challenging year in 2024 due to economic, demographic, and geopolitical issues, according to a report by the Asia Society Policy Institute’s Center for China Analysis.
• The report predicts that China's economy will continue to struggle due to slow consumer demand, a real estate glut, and concerns about debt and fiscal stability.
• China's focus on security, stability, and national 'self-reliance' may lead to a faltering investor confidence and a potential exodus of foreign capital.
• The report also anticipates that China will make climate resilience a security priority and act to reestablish its international climate leadership.
• Despite the challenges, China is expected to strengthen its pivot to the Global South, motivated by deteriorating relations with the Western world and a need to secure greater access to raw materials, develop new markets, and bolster its diplomatic, security, and economic influence.

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