China’s National Development and Reform Commission (NDRC), the country’s top economic planning agency, is downplaying the impact of President Donald Trump’s tariffs and projecting strong growth despite mounting macroeconomic headwinds.
What Happened: On Monday, Zhao Chenxin, Vice Head of the NDRC, said he was “fully confident” that China would meet its target of 5% economic growth in 2025, despite mounting uncertainties and warnings of a sharp downturn from leading analysts, according to a Reuters report.
“No Matter how the international situation changes, we will anchor our development goals, maintain strategic focus, and concentrate on doing our own thing,” Zhao said.
This comes amid a particularly difficult period for the Chinese economy, which is already reeling from deflation and a …