Wall Street's top banks expect China's economy to shine for the rest of 2023, after the country released an impressive first-quarter gross domestic product headline figure on Tuesday.National Bureau of StatisticsThey all expect the end of Beijing's harsh zero-COVID policies to fuel a rise in consumer spending on goods and services — a key driver of economic growth.
Economists polled by Refinitiv expected the Chinese conomy to expand by 4% in the first quarter – so Tuesday's GDP figure outperformed Wall Street's expectations.
Did they forget that China isn’t going to be using US dollars anymore?
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