China’s Woes Cast Shadow Over Global Market Rally

Benchmark CSI 300 index rebounding from three years of declines fails to calm contagion fears

President Xi Jinping's 5% growth target and measures such as an issuance plan for ultra-long government bonds announced last week during the National People’s Congress failed to assuage international investors. — President Xi Jinping's 5% growth target and measures such as an issuance plan for ultra-long government bonds announced last week during the National People’s Congress failed to assuage international investors.
Photographer: Raul Ariano/Bloomberg

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By Richard Henderson and Charlotte Yang

March 11, 2024 at 12:00 AM UTC

Updated on

March 11, 2024 at 1:09 PM UTC

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China’s unceasing economic malaise threatens to ripple across rallying global markets, according to the latest Bloomberg Markets Live Pulse survey.

Global stocks are at records as US economic resilience, buzz around artificial intelligence and growth in places like India and Indonesia keep the rally going. That’s despite troubles in the world’s second-largest economy that include property-sector turmoil, entrenched deflation and geopolitical tensions with the US.