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muriel_volestrangler

(101,146 posts)
Mon Jan 21, 2019, 06:16 AM Jan 2019

China's economic growth slowest since 1990 amid trade war with US

Source: The Guardian

China’s economy grew 6.6% in 2018, its slowest pace in almost 30 years, confirming a slowdown in the world’s second largest economy that could threaten global growth.

After years of breakneck expansion, the world’s second largest economy is losing steam, official data on Monday confirmed. China’s growth in 2018 was the country’s slowest reported rate since 1990 and down from 6.8% growth in 2017.
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“We see that there are changes in stability, concern about these changes. The external environment is complicated and severe. The economy is facing downward pressure,” said Ning Jizhe, director of China’s National Statistic Bureau, adding that China’s economy remained “steady overall”.

Monday’s data, while in line with expectations, puts pressure on Beijing to reach a deal with Washington to end the bruising trade war. “China-US conflict is indeed affecting China’s economy, that is true, but the impact is manageable,” Ning said.



Read more: https://www.theguardian.com/world/2019/jan/21/chinas-economic-growth-slowest-since-1990

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