On the Right Track
As China’s economic growth in 2019 slowed by 0.5 percentage point from the previous year and dropped to the lowest rate in nearly three decades, the debate about the future outlook for the world’s second largest economy has intensified.
However, the 6.1-percent growth, as widely expected, was still in line with the government’s annual target of 6-6.5 percent, according to the National Bureau of Statistics.
At the Forecast of China’s Economy for 2020 conference hosted by the New York-based National Committee on U.S.-China Relations and the China Center for Economic Research of Peking University (PKU) on January 9, economists from both China and the United States shared their observations on the Chinese economy. They believe that despite downward pressure, the economy still has the potential for steady growth.
Reasons behind slowdown
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