After September’s considerable hike in factory manufacture as well as export data of 50.1, China’s factory activity seems to be deteriorating in October as it reaches 50. The 50 marker signifies contraction with growth. Factors of tight Covid restrictions still aggressively prevalent as well as global exports at a low, have affected the nation’s economy drastically. Covvvis-19 relief is nowhere to be seen before 2024, while the Communist Party also announced fears tackling the same. Experts at Oxford Economics predict China’s economy to hit an average of 4-4.5% in the next five years.
