China just announced its slowest quarterly rate of growth since the Great Recession, is it just regular economics or a reason to be worried?
A woman works at a workshop manufacturing plastic woven materials for packaging products in Lianyungang, Jiangsu province, China July 8, 2019. Picture taken July 8, 2019.
The 6.2 percent figure released by the National Bureau of Statistics was in line with a survey of analysts commissioned by AFP and down from a 6.4 percent expansion in the first quarter. However the benefits of the one -child policy began to peter out and in 2012, the ratio of working-age people to total population peaked. This was because the economic benefits of the policy ironically led to a better standard of living and people therefore living for longer.reports that for the past few years, China has been on a borrowing binge, and that the total debt has risen to about 250 percent of GDP, up 100 percentage points since 2008.
Damage from the trade war along with a broader softening in global demand will make 2019 the worst year for trade since the financial crisis a decade ago, with only 0.2 percent growth, according to economists at ING.
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