With stock markets in Shanghai and Shenzhen volatile, and economic indicators in July bucking early optimism, the central bank in Beijing is cutting interest rates.
1 Is the Chinese economy in crisis?
No, that was until the growth of the G-20 economy in the second quarter of this year, according to estimates already known to many of the world’s largest economies. Gross domestic product, in real terms, grew by 6.3% compared to the April-June period of last year. It should be noted that the Eurozone grew by 0.6% in the same period and Germany recorded a decline. The problem is that the growth dynamics of the Chinese economy with respect to the previous three months revealed a slowdown from 2.2% between January and March, to 0.8% between April and June. Some recent indicators are more troubling: Retail sales growth slowed from 3.1% in June to 2.5% in July. Industrial production slowed from 4.4% to 3.7% in that period. The value of exports decreased by 14.5% compared to July 2022.
Did you buy Express?
Enter the code on Revista E to continue reading
“Wannabe internet buff. Future teen idol. Hardcore zombie guru. Gamer. Avid creator. Entrepreneur. Bacon ninja.”
More Stories
BBVA is offering one new share for every 4.83 shares held in Sabadell
Musk fires his entire team and dismantles the charging network
They buy in small quantities and keep them in piggy banks: Chinese youth join the gold rush