Variety of problems will result in ‘vexing year for China’, says think tank report
- A key challenge: restoring trust and confidence despite a declining population, battered social safety net, shifting government policies and unnerved investors
- The Asia Society’s Centre for China Analysis releases ‘China 2024, What to Watch’
China faces a host of economic, demographic and geopolitical challenges that will test its people and governance structure in 2024, but is also likely to take a greater leadership role in setting climate targets and expanding its investment and outreach to the Global South, according to a report released on Tuesday by the New York-based Asia Society.
“This is going to be a vexing year for China,” said Bates Gill, executive director of the Centre for China Analysis, which produced “China 2024, What to Watch”. “We’ll see a much, much sharper focus by Beijing to invest in climate resilience and adaptation measures in 2024.”
This is important for Beijing’s national interest, Gill added. “But this is probably also a pathway by which China can help burnish its international reputation, particularly with regard to the developing world.”
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A key challenge for the government will be to restore trust and confidence, said Jing Qian, the centre’s managing director, no small feat in the face of a declining population, battered social safety net and shifting government policies that have unnerved some investors.