Global Daily: An input, not an output

China just hit its 2024 growth target, as it always does. According to Bloomberg, an “11th-hour stimulus blitz” and “some export boom turbocharged activity” were required to get it over the line, but here we are. Growth for 2025 is targeted at 5% again. Of course, we all pretend to forecast it as if it may not happen, but in China, GDP is an input, not an output.