In 2010, China's GDP grew by over 10%. Fast forward to 2019 and...
If you thought China’s 6% growth rate for this year’s third quarter — which indicates that the country is growing at its slowest pace in nearly 30 years — was bad, brace for worse.
Among economists, there appears to be a disagreement over which effect is making a greater contribution to the country’s dismal growth prospects. On top of which, retaliatory tariffs China has placed on American goods such as pork and soybeans have curbed Chinese demand, Lee said. Kuijs said that the service and consumption sector has “been the most robust in relative terms, in the sense that growth there has slowed down less than elsewhere in the economy.” The latest figures indicate that the retail sector in China for the first three quarters of the year increased by 8.2% compared to last year.
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