China's Q2 growth rate of 6.2% marks 27-year low amid trade war with U.S.
Arirang News
2019-07-16
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China's economic growth rate slumped to a 27-year-low in the second quarter... as its trade dispute with the U.S. rumbles on.
And to stick the needle in,.... U.S. President Donald Trump says,... his tariffs on Beijing are what dragged down China's growth rate.
Kan Hyeong-woo reports.
It was expected by most analysts, but the ramifications for the global economy remain the same.
China's growth rate recorded just 6-point-2 percent in the second quarter,... marking its slowest pace of increase in nearly three decades amid its ongoing trade spat with Washington.
Revealing the data on Monday,... Chinese officials acknowledged the "difficult situation" and said global economic growth is slowing down... while the external instabilities and uncertainties are increasing.
"As for the second half of the year, we should say that the external environment is quite complicated, and there is still domestic downward pressure, but the fundamentals of it being smooth-running will not change."
Recording six-point-three percent growth in the first half of 2019,... the official said China has laid a good foundation for achieving its full-year target, which is between six and six-point-five percent.
The spokesperson also downplayed the impact of trade,... stressing the Chinese economy relies on consumption.
However, U.S. President Donald Trump took to Twitter to say his administration's tariff policy has eroded China's growth.
He tweeted the U.S. "tariffs are having a major effect on companies wanting to leave China for non-tariffed countries"... adding that thousands of companies are leaving China and that's why Beijing wants to make a trade deal with Washington.
On a related note,... U.S. Treasury Secretary Steven Mnuchin told reporters on Monday that he expects to have another 'principle-level' call with Chinese officials this week.
Mnuchin said that, if they make 'significant progress', there's a good chance he and U.S. Trade Representative Robert Lighthizer will travel to Beijing for trade talks.
Kan Hyeong-woo, Arirang News.
And to stick the needle in,.... U.S. President Donald Trump says,... his tariffs on Beijing are what dragged down China's growth rate.
Kan Hyeong-woo reports.
It was expected by most analysts, but the ramifications for the global economy remain the same.
China's growth rate recorded just 6-point-2 percent in the second quarter,... marking its slowest pace of increase in nearly three decades amid its ongoing trade spat with Washington.
Revealing the data on Monday,... Chinese officials acknowledged the "difficult situation" and said global economic growth is slowing down... while the external instabilities and uncertainties are increasing.
"As for the second half of the year, we should say that the external environment is quite complicated, and there is still domestic downward pressure, but the fundamentals of it being smooth-running will not change."
Recording six-point-three percent growth in the first half of 2019,... the official said China has laid a good foundation for achieving its full-year target, which is between six and six-point-five percent.
The spokesperson also downplayed the impact of trade,... stressing the Chinese economy relies on consumption.
However, U.S. President Donald Trump took to Twitter to say his administration's tariff policy has eroded China's growth.
He tweeted the U.S. "tariffs are having a major effect on companies wanting to leave China for non-tariffed countries"... adding that thousands of companies are leaving China and that's why Beijing wants to make a trade deal with Washington.
On a related note,... U.S. Treasury Secretary Steven Mnuchin told reporters on Monday that he expects to have another 'principle-level' call with Chinese officials this week.
Mnuchin said that, if they make 'significant progress', there's a good chance he and U.S. Trade Representative Robert Lighthizer will travel to Beijing for trade talks.
Kan Hyeong-woo, Arirang News.
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