CNN: China's economic growth slumps to lowest in 27 years as the trade war hits
China's economic growth has slumped to its lowest level in nearly three decades as the world's second largest economy feels the effects of a prolonged trade war with the United States.
The country's gross domestic product grew at 6.2% in the quarter ended June, the slowest quarterly growth rate since 1992 and down from 6.4% in the previous quarter, according to government figures released on Monday.
And the Chinese economy will continue to face "downward pressure" in the second half of this year, the country's National Bureau of Statistics said in a statement.
"The Chinese economy is still in a complex and grave situation," it said. "Global growth has slowed and external uncertainties are on the rise."
Read more ....
WNU Editor: President Trump is taking credit for this Chinese economic slowdown .... Trump sees slowing Chinese growth pressuring Beijing on trade (Reuters).
More News On China's Economy
China just posted its lowest growth rate in almost 30 years as the trade war hammers the economy — and the 'worst is yet to come' -- Business Insider
US trade war makes China's economy grow at slowest pace since 1990s -- Yahoo News
China economic growth slows to lowest level in 27 years -- UPI
China's economic growth slumps to 27-year low amid Trump trade war -- Axios
11 comments:
China's in pretty good shape if for them an economic slowdown drops their growth to 6.2 percent. The US economy has averaged less than 3 percent for years and it's that high only because parasitic activities such as drug trafficking, casino gambling and financial speculation are included in GDP figures.
4:05 PM
You are a liar and not a good one.
https://tradingeconomics.com/china/gdp-growth
1.6% for last quarter for China
6.2% is just what the article said. Relax big fella.
< Not the same anon
Yet America's economy keeps humming long without a worrying and predicted inflation.
Another miss by our "experts" who are really experts in their own minds now a days. More Wizards of Oz than a carnival barker.
This 6.2% is of course the official stat from a dictatorship. We all know dictatorships publish bad news as faithfully as good news, not.
So for sure its much lower than 6.2%, probably more like negative growth.
The pressure in the cooker is rising.
https://www.usdebtclock.org/
That feeling when your internet bravado is mostly to bolster your personal faith in your own "team".
Both economies are on the razor's edge of crisis and you shouldn't forget that. There's a lot more going on with the world's economy outside of a few quarterly GDP reports.
That feeling when your internet bravado is mostly to bolster your personal faith in your own "team".
That is not it at all. I do not have faith in my own team. Faith in Pelousy, Schmuck Schumer, AOC, 'Mitt Milk Money' Romney, Kasich, etc
Wimpering dogs like Boehner or Paul Ryan?
Boehner has a cherry job working as a foreign agent for the despots of Angola.
McConnell is affectionately known as "The Turtle"
Just because I think Xi is bad does not mean that I am for many of the clowns in DC.
Fair enough. I could have been less snarky with it. Apologies.
I think you are all missing the BIG point here; China needs us more than we need them. Meaning, they cannot replace their income with someone else, so they are feeling the pinch. So Kudo's to Trump but we need to tread carefully, this could start a chain reaction that has dire consequences.
You have good points Mike.
Ignore China. Allow all immigrants in. Pay them 4.00 bucks per hour. We will create our own Chinese workforce
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