China GDP growth slumps to lowest in 27 years as the trade war hits
5 years, 5 months ago

China GDP growth slumps to lowest in 27 years as the trade war hits

CNN  

Hong Kong CNN Business — China’s economic growth has slumped to its lowest level in nearly three decades as the world’s second largest economy feels the effects of a prolonged trade war with the United States. “Global growth has slowed and external uncertainties are on the rise.” Beijing and Washington recently agreed a temporary truce in their months-long trade war and are planning to restart trade talks. “Uncertainty caused by the US-China trade war was an important factor and we think this will persist,” said Tom Rafferty, principal economist, China at The Economist Intelligence Unit. The growth numbers come after China reported a fall in both exports and imports for the first six months of this year, indicating the toll the trade war is having on an economy already suffering from weaker domestic demand.

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History of this topic

US tariffs on China unable to stop China trade growth
Trending News
3 weeks, 2 days ago

US tariffs on China unable to stop China trade growth

China Daily  

Vessels dock at the port of Lianyungang, a pilot FTZ area in Jiangsu province. WANG CHUN/FOR CHINA DAILY US president-elect Donald Trump has repeatedly pledged to impose high tariffs on imports from China, including revoking China’s permanent normal trade relations status, resulting in 32 percent tariff, an additional 10 percent tariff, on the basis of the average 19 percent tariff …

US tariffs on China unable to stop China trade growth
Trending News
3 weeks, 2 days ago

US tariffs on China unable to stop China trade growth

China Daily  

Vessels dock at the port of Lianyungang, a pilot FTZ area in Jiangsu province. WANG CHUN/FOR CHINA DAILY US president-elect Donald Trump has repeatedly pledged to impose high tariffs on imports from China, including revoking China’s permanent normal trade relations status, resulting in 32 percent tariff, an additional 10 percent tariff, on the basis of the average 19 percent tariff …

Chinese economy can brave external risks
Trending News
3 weeks, 3 days ago

Chinese economy can brave external risks

China Daily  

The skyline of Beijing. If the 2021-23 inflation surge in the United States helped Donald Trump's election triumph, his likely tariff wars will penalize world trade and exacerbate bilateral ties with China, again. In setting priorities for its economic policy for 2025, Chinese policymakers emphasize the need to maintain stable growth, employment and commodity prices through steps including higher deficit-to-GDP …

Chinese economy can brave external risks
Trending News
3 weeks, 3 days ago

Chinese economy can brave external risks

China Daily  

The skyline of Beijing. If the 2021-23 inflation surge in the United States helped Donald Trump's election triumph, his likely tariff wars will penalize world trade and exacerbate bilateral ties with China, again. In setting priorities for its economic policy for 2025, Chinese policymakers emphasize the need to maintain stable growth, employment and commodity prices through steps including higher deficit-to-GDP …

Trade War Widened US Trade Deficit, Increased Chinese Global Exports
3 weeks, 4 days ago

Trade War Widened US Trade Deficit, Increased Chinese Global Exports

Deccan Chronicle  

The US-China trade war initiated by President Donald Trump under his previous government failed to achieve its goals as the trade deficit of the US further widened while China’s global exports increased between 2017 and 2023. The US-China trade war, which began in March 2018 by imposing 25 per cent tariffs on steel and 10 per cent on aluminium, escalated …

Foreign trade growth on steady track
4 weeks, 2 days ago

Foreign trade growth on steady track

China Daily  

A container ship leaves Qingdao Port, Shandong province. As global demand gains momentum, China's foreign trade is expected to maintain steady growth in the coming months, surpassing the usual seasonal fluctuations observed in previous years, trade experts and exporters said on Tuesday. China's foreign trade expanded by 4.9 percent year-on-year to 39.79 trillion yuan in the January-November period, while exports …

China's Xi warns 'no winners' in trade war with U.S.
4 weeks, 2 days ago

China's Xi warns 'no winners' in trade war with U.S.

Raw Story  

by Peter CATTERALL Chinese President Xi Jinping warned Tuesday that there would be "no winners" in a trade war with the United States and vowed the country would hit its growth goals for the year. Former US president Donald Trump -- who returns to the White House next month -- unleashed a grueling trade war with China during his first …

‘No winners’: China’s Xi warns US against a trade war
1 month ago

‘No winners’: China’s Xi warns US against a trade war

CNN  

Editor’s Note: Sign up for CNN’s Meanwhile in China newsletter which explores what you need to know about the country’s rise and how it impacts the world. Hong Kong CNN — Chinese leader Xi Jinping has warned the United States against restarting a trade war, saying there would be “no winners” even as he vowed to defend the country’s economic …

Ripple effects of US policy on Chinese trade
1 month, 2 weeks ago

Ripple effects of US policy on Chinese trade

Hindustan Times  

The United States ’s firm stance on Chinese products has become a cornerstone of its economic strategy, transcending party lines and administrations. As the world’s two largest economies clash, the consequences ripple through global markets, affecting supply chains, trade relationships, and economic growth worldwide. This bipartisan approach reflects a broader recalibration of the US's economic relationship with China, aiming to …

China is armed and ready for trade war 2.0 with Donald Trump
1 month, 2 weeks ago

China is armed and ready for trade war 2.0 with Donald Trump

CNN  

Editor’s Note: Sign up for CNN’s Meanwhile in China newsletter which explores what you need to know about the country’s rise and how it impacts the world. That’s why, despite selling less to the United States, China’s share of global exports is now at 14%, up from 13% before the first Trump tariffs. At a press conference on Friday, Wang …

China is armed and ready for trade war 2.0 with Donald Trump
1 month, 2 weeks ago

China is armed and ready for trade war 2.0 with Donald Trump

CNN  

Editor’s Note: Sign up for CNN’s Meanwhile in China newsletter which explores what you need to know about the country’s rise and how it impacts the world. That’s why, despite selling less to the United States, China’s share of global exports is now at 14%, up from 13% before the first Trump tariffs. At a press conference on Friday, Wang …

China coped with Trump’s first trade war. A second one will be tougher.
Trending News
1 month, 3 weeks ago

China coped with Trump’s first trade war. A second one will be tougher.

Live Mint  

SINGAPORE—The last thing Xi Jinping needs right now is another showdown with Donald Trump over trade. If the U.S. cuts back on some of the $430 billion in goods it imports from China each year, Chinese companies could try sending them to other countries, a strategy Beijing followed successfully after Trump first hit Chinese goods with tariffs in 2018. Some …

Foreign trade poised for steady growth amid headwinds
Top News
2 months ago

Foreign trade poised for steady growth amid headwinds

China Daily  

China's foreign trade in goods 2024. CHINA DAILY China's foreign trade will sustain steady growth for the remainder of 2024 and exporters should prepare for potential challenges, including higher tariffs, by enhancing product competitiveness and expanding sales in emerging markets, government officials and market observers said on Thursday. China's foreign trade increased 5.2 percent year-on-year to 36.02 trillion yuan in …

Foreign trade poised for steady growth amid headwinds
2 months ago

Foreign trade poised for steady growth amid headwinds

China Daily  

China's foreign trade in goods 2024. CHINA DAILY China's foreign trade will sustain steady growth for the remainder of 2024 and exporters should prepare for potential challenges, including higher tariffs, by enhancing product competitiveness and expanding sales in emerging markets, government officials and market observers said on Thursday. China's foreign trade increased 5.2 percent year-on-year to 36.02 trillion yuan in …

Chinese economic collapse not happening
4 months, 1 week ago

Chinese economic collapse not happening

China Daily  

SHI YU/CHINA DAILY True, China's current annual rate of economic growth of about 5 percent is low compared with its growth from 1980 to 2010, when it averaged nearly 10 percent. In spite of what a 5 percent economic growth means in the global context, it has become fashionable in the West to raise the alarm over China's economy. However, …

Chinese economic collapse not happening
4 months, 1 week ago

Chinese economic collapse not happening

China Daily  

SHI YU/CHINA DAILY True, China's current annual rate of economic growth of about 5 percent is low compared with its growth from 1980 to 2010, when it averaged nearly 10 percent. In spite of what a 5 percent economic growth means in the global context, it has become fashionable in the West to raise the alarm over China's economy. However, …

Foreign trade hits new high in first half
5 months, 4 weeks ago

Foreign trade hits new high in first half

China Daily  

MSC Irina, the world's largest container vessel, docks at Ningbo Zhoushan Port in Zhejiang province on April 2. JIANG XIAODONG/FOR CHINA DAILY China's total goods exports and imports reached a new high in the first half of the year despite challenges such as escalating trade protectionism and intensifying geopolitical tensions, signaling an encouraging improvement in demand both at home and …

Foreign trade hits new high in first half
5 months, 4 weeks ago

Foreign trade hits new high in first half

China Daily  

MSC Irina, the world's largest container vessel, docks at Ningbo Zhoushan Port in Zhejiang province on April 2. JIANG XIAODONG/FOR CHINA DAILY China's total goods exports and imports reached a new high in the first half of the year despite challenges such as escalating trade protectionism and intensifying geopolitical tensions, signaling an encouraging improvement in demand both at home and …

Chinese economy belies scaremongers: China Daily editorial
9 months, 2 weeks ago

Chinese economy belies scaremongers: China Daily editorial

China Daily  

The high growth rate the Chinese economy maintained for the majority part of the past four decades seems to have made some take it for granted. They therefore view the 5.2 percent year-on-year growth of the Chinese economy last year from a glass-half-empty perspective. Yet China's economic growth rate is markedly higher than those of other major economies, including the …

China says economy got a strong start in 2024, sets sights on latest technology, upgrading factories
10 months ago

China says economy got a strong start in 2024, sets sights on latest technology, upgrading factories

Associated Press  

BEIJING — China has plenty of room to maneuver to attain its annual target for robust economic growth of about 5% after a strong start for the year, top economic officials said Wednesday, though they acknowledged it’s a challenge. It’s hard to fully meet needs using existing funding channels and there’s an urgent need to increase support,” he said at …

China seen as largest engine for world economic growth
10 months, 2 weeks ago

China seen as largest engine for world economic growth

China Daily  

Photo shows a view of Nansha Port in Guangzhou, South China's Guangdong province. China's GDP exceeded 126 trillion yuan in 2023, up 5.2 percent over the previous year, making it the largest engine of global growth. As China's growth is likely to exceed expectations, emerging Asian economies as a whole are projected by the IMF to grow by 5.2 percent …

Another trade war in the making? China's growth model pushes Beijing into more conflicts with the West
11 months, 1 week ago

Another trade war in the making? China's growth model pushes Beijing into more conflicts with the West

The Hindu  

Swiss solar panel maker Meyer Burger is facing the brunt of competition from China and is warning it may have to close its loss-making production plant in Germany unless the Government steps in with financial support. Growing alarm over Chinese industrial overcapacity flooding the European Union with cheap products is opening a new front in the West's trade war with …

Chinese shudders: Fewer people is bad news
11 months, 3 weeks ago

Chinese shudders: Fewer people is bad news

Live Mint  

For an economy already caught in a slowdown, Wednesday’s release of China’s population data made it a double whammy. China’s covid toll was estimated at about 11.1 million last year and 10.4 million in 2022. It now faces an adverse demographic turn, with fewer people who can contribute to economic activity even as an elderly bulge adds to its welfare …

Country has cemented its place in global supply chains
1 year, 1 month ago

Country has cemented its place in global supply chains

China Daily  

Containers are loaded onto a cargo vessel in Qinzhou Port, Guangxi Zhuang autonomous region, a transit point on the New International Land-Sea Trade Corridor. In the first 10 months of this year, the total import and export value of China's trade in goods hit 34.32 trillion yuan, an increase of 0.03 percent year-on-year. Last year, the total value of China's …

China sees dip in economic growth at 4.9% in third quarter
1 year, 2 months ago

China sees dip in economic growth at 4.9% in third quarter

India TV News  

According to China's trade data, the country's economy has slowed down by 4.9 percent due to muted global demand, deflationary pressures and an ailing property sector. On a quarterly basis, the economy grew by 1.3% in the third quarter, compared to 0.8% growth in the April-to-June quarter. Earlier this year, growth was boosted as people flocked to shopping malls and …

China's curt response on economy to Joe Biden: ‘Resilient, not collapsed’
1 year, 3 months ago

China's curt response on economy to Joe Biden: ‘Resilient, not collapsed’

Hindustan Times  

China's economy is resilient and has not collapsed, the Chinese foreign ministry said as it rejected claims made by US president Joe Biden that its economy is faltering and could cause wider problems. US president Joe Biden called China's economic situation a "crisis" while Australian treasurer Jim Chalmers said a slowing Chinese economy could in turn weigh on Australia's. US …

Pessimism of some Westerners cannot hinder China's growth
1 year, 4 months ago

Pessimism of some Westerners cannot hinder China's growth

China Daily  

A view of the Huangpu River in Shanghai. However, the article comes just days after Bloomberg founder Michael Bloomberg visited China, met the governor of the People's Bank of China and other senior finance officials, and expressed his desire to have long-term and greater cooperation with Chinese financial organs which he said are playing an increasingly important role in the …

China's economic evolution: Navigating challenges
1 year, 4 months ago

China's economic evolution: Navigating challenges

Hindustan Times  

China's economic landscape is currently undergoing a profound transformation, marked by a series of challenges that have far-reaching implications for both the nation and the global economy. China's current economic challenges draw comparisons to Japan's 1990s struggles, marked by deflation, stagnant growth, asset bubbles, and structural issues. China's economic slowdown is challenging the International Monetary Fund's projection that the nation …

China’s economic slowdown, its ripple effect
1 year, 4 months ago

China’s economic slowdown, its ripple effect

The Hindu  

The news about China’s economic slowdown has caused mixed reactions. Speaking at the National People’s Congress in 2007, then Premier Wen Jiabao had cautioned that “the biggest problem with China’s economy is that the growth is unstable, unbalanced, uncoordinated, and unsustainable”. In a ‘new normal’, the ground realities When Mr. Xi says that China is the world’s second largest economy, …

The US, allies see opportunity and risk in China’s slowing economy
1 year, 4 months ago

The US, allies see opportunity and risk in China’s slowing economy

Live Mint  

In China’s current economic travails, US and other Group of Seven nations increasingly see evidence of deep-seated structural problems that ultimately will strengthen the West’s hand against a weakening geopolitical competitor. Aboard a high-speed train from Beijing to Shanghai on Tuesday, US Commerce Secretary Gina Raimondo said American companies had told her China had become increasingly “uninvestible.” “The conventional wisdom …

China's economy on slow lane: Is the country's 4-decade glory run over?
1 year, 4 months ago

China's economy on slow lane: Is the country's 4-decade glory run over?

India Today  

The Chinese economy is in deep trouble and its ripples are being felt across the globe. Structural gaps in the Chinese economy had started to show even before the Covid-19 pandemic ravaged the world economy, but the miscalculated steps taken by the People's Republic of China made the economic situation worse. In 2021, GDP growth in China bounced back to …

Explainer | How much worse can China's economic slowdown get?
1 year, 4 months ago

Explainer | How much worse can China's economic slowdown get?

The Hindu  

China's economic activity data for July, including retail sales, industrial output and investment failed to match expectations, fuelling concern over a deeper, longer-lasting slowdown in growth. Given China's debt-fuelled investment in infrastructure and property has peaked, and as exports are slowing in line with the global economy, China only has one other source of demand to tinker with: household consumption. …

China trade tumbles in May, highlighting slowdown of economic recovery
1 year, 7 months ago

China trade tumbles in May, highlighting slowdown of economic recovery

The Hindu  

China's exports fell 7.5% from a year earlier in May and imports were down 4.5%, adding to signs that an economic rebound following the end of the anti-virus controls is slowing as global demand weakens due to higher interest rates. “China's exports will remain subdued, as we anticipate the U.S. economy to enter recession,” Lloyd Chan of Oxford Economics said …

Foreign trade to see steady growth
1 year, 8 months ago

Foreign trade to see steady growth

China Daily  

China's foreign trade growth will play a key role in underpinning the global supply chain. Growth: Measures set to improve foreign trade quality China's foreign trade will maintain steady growth in 2023, thanks to the improved trade structure and the country's proactive measures to tackle challenges such as geopolitical tensions and fluctuations in external demand, experts said. The nation's foreign …

Opinion: China’s economy might not be headed toward either ascendancy or decline
1 year, 8 months ago

Opinion: China’s economy might not be headed toward either ascendancy or decline

LA Times  

Something about China encourages grandiose predictions. This scenario is less dramatic but still disruptive: It would alter global economic growth and could impede future responses to shared challenges like climate change. Other challenges like climate change impose additional drags — a severe heat wave in the summer of 2022 shaved an estimated 0.3% off already-low GDP growth. China’s contribution to …

Explained: How China's economic slowdown could affect the rest of the world
1 year, 11 months ago

Explained: How China's economic slowdown could affect the rest of the world

Firstpost  

Observers have already predicted that China would fall into the middle-income trap, and now evidence has emerged that the country is struggling to maintain its miracle of sustained higher growth rates of 10 per cent or more Beijing: According to China’s National Bureau of Statistics, the annual GDP growth of the country fell to three per cent, much below the …

Neglecting China's contributions to COVID-19 fight exposes prejudices
1 year, 11 months ago

Neglecting China's contributions to COVID-19 fight exposes prejudices

China Daily  

People join a lantern festival in Taijiang district, Fuzhou, southeast China's Fujian province, Jan 6, 2023. The international community has gained a deeper understanding of China's persistent efforts to efficiently coordinate COVID-19 response and socio-economic development, as the country implements its optimized COVID-19 control measures in a steady and orderly manner. They ignored China's achievements in the COVID-19 fight over …

World needs China-US ties back on track in 2023
1 year, 11 months ago

World needs China-US ties back on track in 2023

China Daily  

Chinese and US flags flutter outside the building of an American company in Beijing, Jan 21, 2021. In a report published last November, the Brookings Institution said the United States must forge a "durable, productive relationship" with China, adding that both sides share common interests in both bilateral and multilateral areas and that cooperation is needed. It is wrong to …

China’s trade surplus swells to $877.6B as exports grow
1 year, 11 months ago

China’s trade surplus swells to $877.6B as exports grow

Associated Press  

BEIJING — China’s trade surplus swelled to a record $877.6 billion last year as exports rose despite weakening U.S. and European demand and anti-virus controls that temporarily shut down Shanghai and other industrial centers. “China’s foreign trade and exports showed strong resilience in the face of many difficulties and challenges,” said a customs agency spokesperson, Lu Daliang, at a news …

China's trade unexpectedly shrinks as COVID curbs, global slowdown jolt demand
2 years, 2 months ago

China's trade unexpectedly shrinks as COVID curbs, global slowdown jolt demand

The Hindu  

China's exports and imports unexpectedly contracted in October, the first simultaneous slump since May 2020, as a perfect storm of COVID curbs at home and global recession risks dented demand and further darkened the outlook for a struggling economy. The data suggests demand remains frail overall, and analysts warn of further gloom for exporters over the coming quarters, heaping more …

China trade down on weak global demand, virus curbs
2 years, 2 months ago

China trade down on weak global demand, virus curbs

Associated Press  

BEIJING — China’s trade shrank in October as global demand weakened and anti-virus controls weighed on domestic consumer spending. China’s global trade surplus edged up 0.9% from a year earlier to $85.2 billion. Exports to the United States rose 35.3% over a year earlier to $47 billion despite lingering tariff hikes in a trade war over Beijing’s technology ambitions. China’s …

China’s economy shrinks 2.6% during virus shutdowns
2 years, 5 months ago

China’s economy shrinks 2.6% during virus shutdowns

Associated Press  

BEIJING — China’s economy contracted in the three months ending in June compared with the previous quarter after Shanghai and other cities shut down to fight coronavirus outbreaks, but the government said a “stable recovery” is under way after businesses reopened. “The national economy registered a stable recovery.” Data on factory output, consumer spending and other activity suggest overall growth …

Foreign trade set to post stable growth this year
2 years, 6 months ago

Foreign trade set to post stable growth this year

China Daily  

Photo shows a view of Nansha Port in Guangzhou, South China's Guangdong province. Analysts said China's foreign trade is expected to post stable growth this year, despite unprecedented challenges, which include high raw material costs and fierce competition from countries in Southeast Asia. China's foreign trade rose 8.3 percent year-on-year to 16.04 trillion yuan in the first five months of …

China’s trade rebounds in May as anti-virus curbs ease
2 years, 7 months ago

China’s trade rebounds in May as anti-virus curbs ease

Live Mint  

China’s trade growth rebounded in May after anti-virus restrictions that shut down Shanghai and other industrial centers began to ease. Exports surged 16.9% over a year earlier to $308.3 billion, up from April’s 3.7% growth, a customs agency statement said Thursday. China’s politically sensitive global trade surplus widened by 82.3% over a year earlier to $78.8 billion. Exports to the …

China trade weakens after cities shut down to fight virus
2 years, 8 months ago

China trade weakens after cities shut down to fight virus

Associated Press  

BEIJING — China’s export growth tumbled in April as global demand weakened, adding to pressure on the world’s second-largest economy after Shanghai and other industrial cities were shut down to fight virus outbreaks. Companies and investors worry the ruling Communist Party’s “zero-COVID” strategy that temporarily closed most businesses in Shanghai and other industrial centers will disrupt global trade and activity …

China trade weakens after cities shut down to fight Covid-19 outbreak
2 years, 8 months ago

China trade weakens after cities shut down to fight Covid-19 outbreak

India Today  

China’s export growth tumbled in April after Shanghai and other industrial cities were shut down to fight virus outbreaks. Exports rose 3.7 per cent over a year earlier to USD 273.6 billion, down sharply from March’s 15.7 per cent growth, customs data showed Monday. Reflecting weak Chinese demand, imports crept up 0.7 per cent to USD 222.5 billion, in line …

China’s economy grows still-weak 4.8% in January-March
2 years, 8 months ago

China’s economy grows still-weak 4.8% in January-March

Associated Press  

BEIJING — Chinese leaders face pressure to shore up sinking economic growth after Shanghai and other cities shut down to fight coronavirus outbreaks, threatening to disrupt global trade and manufacturing. “China’s economic performance is likely to remain lackluster in the near-term.” The ruling Communist Party, which set a 5.5% growth target this year, already was trying to reverse a slump …

China steers economy through challenges
2 years, 8 months ago

China steers economy through challenges

China Daily  

Editor's note: The Chinese economy faces severe challenges because the wave of the COVID-19 infections could lower GDP growth. MA XUEJING/CHINA DAILY Some foreign media say China's economic growth target of about 5.5 percent is too high, and its economic prospects are unattainable. The"2022 White Paper on the Business Environment in China" and the "2022 Special Report on the State …

Exports to continue brisk expansion
2 years, 11 months ago

Exports to continue brisk expansion

China Daily  

By LIU ZHIHUA in Beijing and SHI RUIPENG in NanningChina DailyUpdated: February 10, 2022 Container vessels loading at Yangshan Port, Shanghai. "There are many positive factors helping us to tap into global markets, including China's leap forward in international cooperation and supportive policy measures for foreign trade," said Niu, whose company is a leading robot manufacturer and exporter based in …

China’s rise and America’s decline spell conflict
3 years, 1 month ago

China’s rise and America’s decline spell conflict

Al Jazeera  

Monday’s summit between Xi and Biden addressed everything from trade to security and human rights, but resolved nothing. But the similarities are becoming uncanny as a rising China begins to pose a strategic challenge to the global system similar to that of the Soviet Union; as Biden frames the conflict between the US and China in ideological terms ; and …

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