China’s economy grew by 0.4% in the second quarter of 2023, the slowest pace since April-June 2020. The slowdown was due to a number of factors, including the ongoing COVID-19 pandemic and the war in Ukraine.
The growth rate was below the expectations of economists, who had forecast a growth of 1%. The slowdown is a sign that the Chinese economy is facing headwinds, and it could have implications for the global economy.
China Economic Growth
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The Chinese government has taken steps to try to boost the economy, including cutting interest rates and providing tax breaks. However, it is unclear how effective these measures will be.
The slowdown in China’s economy is a reminder of the interconnectedness of the global economy. The war in Ukraine and the COVID-19 pandemic are having a ripple effect around the world, and China is no exception.
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