Source: International Business Times
The trade row with the United States has compounded problems in China's economy including weak consumer spending and a debt crisis in the property sector AFP China's economy likely grew at its slowest pace in a year last quarter, according to an AFP survey, dragged down by lacklustre demand and a crisis in the crucial property sector, compounded by a trade war with the United States. Beijing has struggled to kickstart a full recovery from the Covid-19 pandemic, which hammered sentiment among the country's army of consumers, even after a series of measures aimed at stimulating buying. The growth reading Monday will come as the ruling Chinese Communist Party kicks off a key meeting to formulate policy directions in the next five-year period -- a period experts warn could present more hurdles for growth.
