Tariff war effect: China's second-quarter growth slumps to 27 year low
The Chinese economy grew at the slowest pace in 27 years in the second quarter of 2019 as the country logged a growth of 6.2 per cent, the National Bureau of Statistics said on Monday.
The Chinese economy grew at the slowest pace in 27 years in the second quarter of 2019 as the country logged a growth of 6.2 per cent, the National Bureau of Statistics said on Monday. The damaging trade with the US could have been one of the reasons proving to be a drag on the world`s second-largest economy. China`s GDP rose 6.2 per cent in the April-June which was below 6.4 per cent in the first quarter, the Bureau said.
Beijing is locked in a protracted trade spat with Washington which has taken a toll on its economic health. Even though Beijing`s officials are busy hammering out a trade deal with their US counterparts, it is known how long it will take clinch the deal.
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The Bureau said the economy is faced with a complex situation amid the rising external uncertainties. It also added that there was new downward pressure on the economy.
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