The growth outlook of China for the remaining part of the year and in the next year is expected to become weaker due to the obstacles which include the drag from the trade war going on with the United States, as per the analysts.
Although a trade truce deal had been announced by the President of United States on Friday, as per which the tariff increase which was set to take effect in this week ono the Chinese exports was postponed and it is also likely that if a final agreement is reached before December, the new levy which had been expected on the 15th of December maybe done away with, however the tariffs which are in place on Chinese goods worth $ 360 billion will be continuing to impact the economy as it goes forward.
On Friday, the next mile marker of the economic slowdown in China will be coming when the country will report the growth in the third quarter and the analysts will be expecting it to slow to 6.1 % from the levels of 6.2 % which it saw in the second quarter. This was already the lowest rate of growth since the government had started publishing the quarterly GDP statistics from the first quarter of 1992 onwards.
If the expectations are matched in the third quarter, then unless there is a fourth quarter collapse, growth will be falling within the range of the government which is 6% to 6.5% as it was recorded at 6.3% in the year’s first half.
However the analysts have been quick to revise down the expectations for the next year below the lower end of the year’s growth range.
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