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China’s Economic Growth Slows to 28-Year Low
China’s economy expanded by 6.6% last year, its slowest pace since 1990, according to the National Bureau of Statistics.
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China’s economy expanded by 6.6% last year, its slowest pace since 1990, according to the National Bureau of Statistics.
Growth in the country’s gross domestic product climbed 6.8% in 2017 and into the first quarter of 2018. But NBS says quarterly growth slowed to 6.7% in the second quarter last year, then to 6.5% in the third period and 6.4% in October-December.
China’s central government has been saying for more than a year that it is now targeting slower but sustainable growth rates, including a 6.5% goal for last year. But economists are widely skeptical of China’s official data.
Some analysts estimate the country’s GDP’s expansion is about half the reported pace. They suggest that the government is especially intent during the U.S.-China trade war to portray the country’s economic growth as being firmly under control.
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