Overview

• 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.