07/16/2018, 14.43
CHINA
Send to a friend

With US tariffs and high public debt looming, China’s economy slows down

In the second quarter, the economy grew by 6.7 per cent compared to a year ago, a slight drop from 6.8 per cent in the first quarter., Chinese exports grew in June, as did the trade surplus with the United States, creating fears that the tariff dispute might escalate.

Beijing (AsiaNews/Agencies) – China’s economic growth slowed as expected in the second quarter because of the looming trade war with the United States and the government’s efforts to cut public debt by limiting loans.

The economy grew 6.7 per cent in the second quarter from a year earlier, cooling slightly from 6.8 per cent in the first quarter, the National Bureau of Statistics said on Monday.

The world’s second-largest economy has already felt the effects of a multi-year crackdown on riskier lending that has driven up corporate borrowing costs, prompting the central bank to pump out more cash by cutting reserve requirements for lenders.

On the other hand, China’s exports grew, as did the trade surplus with the United States, creating fears that the tariff dispute might escalate.

For years, the United States has been calling for a more balanced trade relationship with China. More recently, it has imposed a 25 per cent tariff on a number of Chinese import products.

US President Donald Trump has also threatened to impose an additional 10 per cent on US$ 200 billion worth of Chinese goods.

TAGs
Send to a friend
Printable version
CLOSE X
See also
White House to stop Beijing's "imperialist" policy in the South China Sea
24/01/2017 15:55
Pope talks about the Middle East, the Holy Land and the food crisis with Bush
13/06/2008
Tariff war: Openings from Biden, but Trump's tariffs remain
05/10/2021 16:36
Biden follows Trump and puts the squeeze on Huawei's 5G
12/03/2021 15:46
US consulate in Chengdu closed in retaliation for the closure of China’s Houston consulate
27/07/2020 10:29


Newsletter

Subscribe to Asia News updates or change your preferences

Subscribe now
“L’Asia: ecco il nostro comune compito per il terzo millennio!” - Giovanni Paolo II, da “Alzatevi, andiamo”