China quarterly growth affected by trade war
July 15, 2019 | Investopaper
According to the statistics bureau of China, the country’s economy has grown by 6.2 percent in the second quarter compared to last year corresponding quarter. This is the slowest economic growth rate in 27 years after 1992. The economy slowed down during the three month period of April to June this year. In the first quarter, the economic growth rate was 6.4 percent.
The main reason behind the weakening growth rate is the uncertainty caused by an ongoing trade war with the US. China is the world’s second-largest economy trailing to the United States. The country faces new downward pressures and will try to ensure steady economic growth, the statistics bureau added.
China and the US both need to find a complete solution to the ongoing dispute to bolster their economy. Once the tariff ceasefire ends and comes into play, both economies will suffer again.
