Goldman, BofA See 2024 Flashback in China Before Politburo Meets

China's economy is showing signs of weakness similar to 2024, with retail sales decelerating, stock market underperformance, and unexpected deterioration in investment levels as the Politburo prepares to meet. Local governments are facing financing challenges that have led to reduced public spending, creating headwinds for economic growth. Goldman Sachs and Bank of America are flagging these concerning trends as the country enters a critical policy meeting.