China's economy forecast to slow sharply in 2024, says World Bank; calls recovery 'fragile'

Despite a recent recovery, China's economy will slow to 4.5% growth next year. The challenges include weakness in the property sector, global demand for exports, high debt levels, and wavering consumer confidence. Growth is expected to slow further in 2025. Job losses and a downturn in the property industry have led to cautious spending. The report emphasizes the need for structural reforms and support for cash-strapped local governments. The real estate investment has fallen.