You can be happy for China, the country`s economy has ceased to grow
If the economy
of Russia, which has plenty of oil and gas, grows by only 1% per year and this is considered a good achievement in the government, then China`s GDP growth in 2018 reached 6.6% and this is the minimum figure since 1990. The economy
has developed the tasks and now in order for growth to continue to need to continue to capture the markets of other countries with cheap goods, otherwise it simply will not work. All this growth in China is well inserted into the wheels of the stick trump administration. Washington has achieved many good results in the economic war with China. The trade war between the two most powerful economies in the world will only continue to grow, and therefore it is worth predicting that China`s economic growth while there is such a war will not be much. Even in the short term, China has no chance of growth, the markets are closing gradually. Everyone has already eaten "plenty" of good goods from China and rising unemployment at home, so there is a global change of growth strategies not only in the US but also in the EU.
Us trade sanctions against China brought the country to the fact that the decline in GDP is simply huge, such GDP as in 2018 in China was not for 28 years in a row, this news was published in the state statistical office of the PRC. In 2017, GDP grew by 6.8%, and in 2018 by 6.6%, and the fall will clearly continue for objective reasons. China one wants to live well, and about others it is not even interesting to hear.
In 2018, China earned money in full - about $13.23 trillion. In 2017, this figure was slightly higher, mainly due to agriculture, which slowed down by 0.2% compared to last year`s growth rate. The industry shrank by 0.4% and the service sector fell by as much as 0.5%. Sell, or rather buy in China steel, too, 1.2% less, and this is a very good indicator of the slowdown in GDP growth.
Probably in China there is no cheap labor left, everyone sees that everyone has money, that it is possible to live better and do not want to work for pennies, and this in turn falls on the cost of the final product. The US and the EU stopped giving new technologies to China and this also had a negative impact. And trade war with the USA in General the last nail in a coffin of economy
of China, from such cataclysms very few people will recover. Previously, a very large sector of Industrialists in China worked just for the export of not expensive and not high-quality goods for the United States, now this niche has closed. This led to the fact that in December 2018, China`s exports fell by 4.4%, a lot of money! Yes, and imports fell by as much as 7.6%, mainly due to the fact that demand in China fell by 1.2%, so that China is clearly in the fall and it is not clear when to recover.
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