But the current climate of trade tensions is not permanent due to external factors so the Chinese government is doing everything possible for the people to stay united and resilient to ride through this current situation so that they will emerge stronger when this situation blows over. A crane operates at Yantai Port in Shandong Province on January 17, 2023, loading and unloading goods onto a cargo ship. Yes. China’s economy witnessed a spiral recovery in 2023, with an annual growth rate considerably higher than the 3 percent of the previous year and the 4.5 percent average growth rate over the three pandemic years. China has a population of 1.4 billion, which created considerable domestic demand, the primary driver of China’s economic growth, with a total retail sales of social consumer goods exceeding 47 trillion yuan. In 2023, China’s contribution exceeds 30 percent, far surpassing India and the United States, which are ranked second and third.
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