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China's economy grows at slowest pace since 1990s
Posted Date:-7/15/2019 7:39:09 PM

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China's economic growth slowed in the second quarter to its weakest pace since the early 1990s, official figures showed. From three months to June, the economy grew 6.2% from a year ago. The result was consistent with the forecast.
 
China has promoted spending and tax reductions to boost its economy this year. The world's second largest economy is also fighting a war with the United States, whose weight is on global trade. Data released on Monday showed that China's economic growth rate slowed to 6.4% in the first quarter of the year in the second quarter.
 
The country's expansion has raised concerns about the impact on the potential knock on the global economy. Earlier this year, Beijing announced a billions of dollars in taxes to boost expenses and tax cuts. It has demanded to support its economy to promote liquidity in order to reduce the amount of cash banks.
 
As part of China's efforts, the country fights a comprehensive trade war with America. While both sides agreed to resume trade talks at a recent G20 summit in Japan, they have already placed tariffs on billions of dollars worth of one another's goods, hurting businesses and casting a shadow over the global economy.

 




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