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What tariffs? Another China GDP forecast rises on fast start, capital outlays

Morgan Stanley joins others in growing more bullish on China’s economy for the year, but US tariffs seen biting amid ‘supply-chain rewiring’.



Morgan Stanley and HSBC have raised their 2025 GDP growth forecasts for China, citing a strong start to the year and increased capital expenditures. However, US tariffs are expected to negatively impact the economy, despite government efforts to bolster domestic consumption and resilience.

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