Alibaba and other Chinese online retailers are highly sensitive to the strength of consumers.
Dreamstime
A new economic forecast for China suggests trends in consumer spending that could benefit tech stocks like
Alibaba Group Holding
early next year—before it gets worse. Those hoping for a swift Chinese recovery may be disappointed.
First, some good news, by way of a note published Wednesday by a team led by Mark Williams, the chief Asia economist at research group Capital Economics. China’s economy has recently regained strength, they said, and this is expected to continue into 2024 amid stimulus policy and an acceleration in household spending.
“But with property construction likely to continue to decline and exports set to do the same, the recovery will lack momentum….
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