经济最艰难的时刻过去了吗？复苏何时出现？

Core Viewpoint - The article discusses the economic downturn in China since 2021, highlighting the need for debt digestion, structural adjustment, and rebuilding confidence as essential steps for recovery [1] Group 1: Economic Downturn - China has experienced a continuous four-year downturn in the real estate sector, leading to widespread concerns about when economic recovery will occur [1] - The concept of the "three stages of recovery" is introduced, which includes debt digestion, structural adjustment, and rebuilding confidence [1] Group 2: Recovery Progress - The article aims to analyze the current progress in these three stages of economic recovery and the contradictions faced during this process [1]