In response to Western claims that China’s economy is faltering and could have wider implications, China’s foreign ministry said China’s economy is resilient and has not collapsed. Officials in Australia and the United States have expressed concern about the world’s second-largest economy. US President Joe Biden called China’s economic situation a “crisis”, and Australian Treasurer Jim Chalmers warned that a slowdown in China’s economy could affect Australia. However, Chinese Foreign Ministry spokesman Mao Ning dismissed the claims, saying China’s economy had not collapsed. Mao stressed that China’s economy has great potential, and the long-term basis for improvement has not changed. She expressed confidence in China’s ability to promote continuous and healthy economic development. Despite a strong start to the first quarter, China’s economic recovery from the COVID-19 pandemic has faced challenges, including weak consumer spending and a deepening housing slump. Analysts predict that the economy will grow by 5.0% this year, which is less than the 5.5% forecast in the July survey.

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