When China’s National Bureau of Statistics reported that the world’s second-largest economy grew at a faster-than-expected rate of 6.4 per cent in the first quarter compared with the same period in 2018, it was yet another reason for global investors to cheer.
The estimate was announced in mid-April, at a time when senior Chinese and US officials were signalling that the two countries’ year-long trade war was nearing an end.
That optimism is long gone as the NBS prepares to release its estimate for second-quarter economic growth on Monday, which is expected to come in at 6.2 per cent, according to a recent Reuters poll.
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