China misses plenum chance to steady economy before U.S. election

Beijing risks losing grip as property market woes, consumer slump threaten stability

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20240722 china plenum

The third plenary session of the 20th Communist Party of China's Central Committee was held from July 15 to 18 in Beijing. © AP

Paul Cavey, previously Asia macro strategist and managing director at investment company Wellington Management, is the founder of research service East Asia Econ.

China's economy has been remarkably successful in withstanding the double whammy of zero Covid and property market collapse. Growth hasn't been as strong as it used to be, but also not as bad as might have been feared.

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