China's economic growth slowest since 1990 amid trade war with US
Source: The Guardian
Chinas economy grew 6.6% in 2018, its slowest pace in almost 30 years, confirming a slowdown in the worlds second largest economy that could threaten global growth.
After years of breakneck expansion, the worlds second largest economy is losing steam, official data on Monday confirmed. Chinas growth in 2018 was the countrys 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 Chinas National Statistic Bureau, adding that Chinas economy remained steady overall.
Mondays 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 Chinas 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