Wahala dey brekete for di property market, people no dey buy tings like before, and now dem dey talk say Donald Trump fit return go White House. Even though di Beijing statistics office don announce say dem meet dia 5% growth target for last year and di economy bin dey shine small towards di end of di year, experts still dey fear say China economy go still dey waka for rough road for now. German companies too dey prepare say di tough time for Asia no go end anytime soon.
Di mata no dey easy from different angles. Most Chinese people money dey tied up for dia house, but house price don drop well-well because big developers dey face financial wahala wey don make people no trust di market again. Because of dis, people no dey spend money for oda tins like before.
Beijing don try do some kain tins to boost di economy. Na why di growth for di last quarter of di year reach 5.4%, wey better pass di oda quarters. But di main focus for di economic planners na to continue di modernisation of di country. Dem wan support industries wey get future so dat China fit produce new global leaders for market. Di plan na to make sure say China dey independent for technology so dem no go dey too depend on oda countries, especially as US dey put restrictions and sanctions.
Economist Max Zenglein from China-Institut Merics for Berlin talk say e no sure say China economy go improve well-well even by 2025. E talk say if Trump return, e fit increase di pressure wey Biden government don already put on Beijing. Trump don already talk say di first day wey e go enter office, e go put 10% tariff on Chinese goods. Dis one go affect China foreign trade wey be one of dia main economic support.
Observers dey fear say if Trump carry out di threat, e fit start trade war again. China go respond to any US action, and dis kind trade wahala don happen before during Trump first term. Di kain mata dey make German companies dey worry. Oliver Oehms, wey be oga for German Chamber of Commerce for North China, talk say German businesses no dey too optimistic about di new year.
One-third of di companies dey expect say di economy go worse pass last year. Wetin dey worry dem na di low demand for di local market, di strong competition from Chinese companies, and di pressure to reduce price for di market.
Oehms talk say di risks no easy to calculate, especially di trade conflict between China and US and di possibility of more trade barriers for di world. Even with di challenges, many German companies still dey invest for China and dey expand dia operations, especially for research and development. Dem no wan lose dia position for di important market. Dem dey hope say Beijing go bring more policies wey go encourage people to spend money.
E no dey impossible say Beijing fit bring more help. Yang Ping, wey be director for investment research for Beijing Reform and Development Commission, talk say di local consumption na di main thing wey go help di economy grow. She talk say China dey ready for Trump. Even if e bring bad policies, China don get experience from before and dem get control measures. But because China dey sell more to US than US dey sell to China, dem dey for di weaker side for di trade war.
China fit still use oda ways to fight back. For example, dem dey control rare earth metals wey US tech companies need. Dem fit also make life hard for US companies wey dey operate for China market.
