China has set an economic growth target of 5% this year, with Premier Li Qiang – aka President Xi Jinping’s 2IC – saying they’re looking to “transform” the economy after suffering “deep-rooted problems” in 2023. Li made the announcement at the massive annual National People’s Congress in Beijing. Li told his fellow officials that slow economic recovery from the pandemic was a factor – but China’s massive property market debt has also been an issue. It’s also worth noting the growth target is higher than the 4.6% the International Monetary Fund has forecast for China this year, so let’s see who’s right… China’s growth has been a big talking point at the ASEAN special summit in Melbourne this week – Malaysia’s PM Anwar Ibrahim is a voice in favour of the rising giant. “I sense that some countries just cannot accept the fact that you have another superpower emerging. I don’t have that problem,” he said.