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Growth Forecasts For India And China Do Not Look Good For Next Year Too

India and China, the two economic giants in Asia are both going to register rates of growth of less than 6% in the upcoming year after many years of seeing expansion at a high speed. The bank DBS has said in their outlook for the year 2020 which had been released on Monday that the economy of China is going to slow down to in the next year to the growth levels of 5.8% as there is an ongoing dispute which is taking place with regard to trade with the United States and it has also said that the outlook for India which is its regional rival is going to be grim too.

The growth of India is going to slip to 5% in the financial year due to the weaknesses that it has shown in the sectors except for public administration, as per the report. Though there is modest recovery which is seen in the coming year. The economy of India saw an expansion of 4.5% in 2019’s third quarter which is less than 5% in the previous period. The growth of India had averaged 6.18% ever since 1951 and till 2019 and it had reached an all-time high at 11.40% in 2010’s first quarter and had recorded its lowest point in 1979’s fourth quarter at −5.2%.

The GDP of China in the quarter of July–Sept has seen a fall to 6% from what it was in the previous quarter at 6.2 %. This has been their weakest growth since 1992’s first quarter. The annual growth rate of GDP in China has averaged a staggering 9.39% from the year 1989 till the year 2019 as it reached an all-time high in 1993s first quarter and lowest in 1990s fourth quarter at a low of 3.80 %.

Kelly Rivera
Kelly Rivera Author
Lead Editor At Global Newspaper 24

Kelly has been one of the most knowledgeable personalities in the Global Newspaper 24’s Business section team. While she has completed MBA in Finance Degree, she has always demonstrated her core knowledge in business management and affection toward the freedom of expression through words by crafting superlative news reports for all the readers of the Global Newspaper 24 platform. At present, Kelly works as the Head of the Business Department and is responsible for checking all the news reports for readability while adhering to the quality standards of Global Newspaper 24. Kelly is a super-active personality that loves to write news reports on various topics such as mergers & acquisitions, latest product launches, and major business events.

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