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Economy
Daily life in China after the pandemic
China's economy faces lopsided supply and demand problems that have been decades in the making.

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  • Forecasters polled by Bloomberg have slashed their growth outlook for China.
  • The country is battling deflation, soaring youth unemployment, and a property-market crisis.
  • Policymakers cut stamp duty taxes Monday – but are yet to roll out a "big bang" economic fix.

China's economic nightmare is unlikely to end anytime soon, according to forecasters, who've cut their growth expectations for both this year and next.

Economists polled by Bloomberg now see the Asian country's gross domestic product (GDP) rising just 5.1% in 2023, according to the median estimate in the publication's latest survey – down from an earlier prediction of 5.2%.

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There could be even tougher times ahead for China's economy, as forecasters sla…