Aerial photo shows the traffic flow on a viaduct in Nanjing, East China’s Jiangsu Province, June 16, 2023. (Photo by Costfoto/NurPhoto via Getty Images)Nurphoto | Nurphoto | Getty ImagesGoldman Sachs became the latest Wall Street bank to downgrade its growth forecast for China, as the world’s second-largest economy stutters and loses momentum after its coronavirus reopening.The investment bank cut its full-year gross domestic product forecast for 2023 from 6% to 5.4%, noting further turbulence ahead for the economy. The recovery from its stringent Covid-19 lockdown measures continue to disappoint through soft economic data, as well as mounting pressure on its property sector.While the firm sees further stimulus to come, it notes that the measures will not be enough to overcome the greater problems that it faces: weakened sentiment.Read more about China from CNBC Pro”With continued challenges from the …
