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Sluggish Lunar New Year Meat Sales in Beijing
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China's economic downturn is evident in the sluggish Lunar New Year meat sales in Beijing's Xinfadi wholesale food market. The decline in demand is attributed to factors such as uncertain employment prospects, declining stock market, and plunging property values. The International Monetary Fund forecasts China's economic growth to slow to 4.6% in 2024, reflecting the impact of the economic downturn on meat consumption.
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How could the sluggish Lunar New Year meat sales reflect broader trends in the Chinese economy and its implications for the global economy?
How might the decline in meat consumption in China impact the global agriculture industries?
What strategies could be implemented to mitigate the impact of China's economic downturn on the meat industry?
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