China’s economy expanded at its slowest pace in about 30 years at 6 per cent in the third quarter of 2019 compared with a year earlier, delivering another blow to global growth, according to figures released by the National Bureau of Statistics on Friday.
The country’s trade war with the US and cooling manufacturing and investment sentiment took a toll on the world’s second-largest economy between July and September, the figures, which were slightly lower than analysts’ expectations, showed.
China’s growth is now running at a level comparable with the late 1980s. However, the overall size of the economy is now far larger and, by many accounts, cannot continue expanding at double-digit rates.
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