China’s economy grew at its slowest rate in three decades in 2019, according to an AFP poll of economists, after a year marked by weaker domestic demand and a bruising trade war with the United States. The survey of analysts at 14 institutions predicted that the world’s second-largest economy would clock 6.1 percent gross domestic product (GDP) growth for the full year. ANZ senior China economist Betty Wang warned trade tensions could still escalate and impact next year’s growth. And China’s growth may not have hit the bottom yet, according to Nomura analysts, given challenges such as worsening fiscal conditions, a cooling property sector and weakening exports. The World Bank has forecast China’s growth to come in at 5.9 percent this year, against the backdrop of a “fragile” world economic outlook.

Source: Egypt Independent January 14, 2020 03:22 UTC