January 21, 2019 | Investopaper
China’s economic growth could not gain momentum in 2018. It has posted a slowest economic growth in 2018 since 1990. The trade war between two economic giants since last year caused damage to the economy of both the countries.
China, this Monday has reported a economic growth rate of 6.6% in 2018 which is the slowest growth pace it has recorded since 1990. The fourth quarter growth rose by 6.4% from previous year growth.
Due to the trade war between US and China, the Chinese exporters have been facing a dilemma which has led the companies to delay their investing and hiring. Also layoffs to workers have been observed in electronics, textiles and auto parts companies in Shenzhen.
Some economists and investors expressed that the economy of China is very weak than the reported growth rate. They have shown their state of dilemma although resolving trade disputes may boost their confidence in China’s economic performance.
Mr. Ning Jizhe, head of National Bureau of Statistics on Monday news conference said that the economy faces downward pressure pointing to complicated and severe external environment in particular.