China’s economic growth plunges to lowest level since 1992. China’s growth dropped to its lowest level in nearly three decades, as the world’s second largest economy continues to feel the pain from trade tensions with the United States.
Domestically, the top 10 cities whose residents spent the most on National Day travel within China spent at least 3,000 yuan, with Shenzhen topping the list at 3,324 yuan, according to Ctrip.
As much as China‘s latest economic data indicate a slowdown in growth, a look at seasonal factors — and air pollution levels — signals the deceleration could be more significant, analysts said. Data released Thursday showed China’s industrial output fell from 5.7 percent in December to 5.3 percent in January and February. That was the slowest paceRead More
To gauge the scope of China’s economic slowdown, begin with forklifts. The factory workhorses are a barometer of the manufacturing sector’s fitness. Changes in demand can ease or worsen concerns about China. By that measure, EnerSys sees trouble. The Reading, Pa., maker of batteries that power forklifts said those sales in China fell in the latest quarter afterRead More
China’s current economic growth is likely below the 6 percent level amid faltering domestic demand, an economist said Tuesday. Recent signals about the world’s second-largest economy point to weaker growth, including tech giant Apple recently lowering revenue guidance for the first quarter as it blamed a variety of factors including Chinese demand. And, on Monday, Hong Kong-listed automaker Geely saidRead More
US and Chinese officials held their first face-to-face negotiations since a 90-day truce was declared in a trade war between Washington and Beijing, in the hope of ending a bruising confrontation between the world’s two largest economies. Hopes that the sixth round of negotiations between the two sides could yield a breakthrough helped Asian shares rise onRead More
For years, no matter what was happening elsewhere, global companies bet billions upon billions of dollars that China’s consumers would keep spending money. Now, just when the world economy could use their financial firepower, they are no longer so quick to open their wallets. The latest sign of a slowdown in spending in China cameRead More
With pressure building for major stimulus, leaders must decide whether boosting growth or controlling debt is more important. China’s top leaders meet this week in Beijing to set economic policy objectives for the coming year. The central question is whether they will do what they want or what the country needs. Clear evidence has emergedRead More
A Friday sell-off triggered by concern over the health of the global economy wiped out U.S. equity gains for the week and pushed the benchmark index to an eight-month low. The Standard & Poor’s 500-stock index fell 1.3 percent to 2,599.95, the lowest closing level since April 2. Financial stocks were the worst performers amongRead More
What a difference a year makes when you are trading Chinese bonds. Twelve months ago, dealers in China’s $2 trillion government debt market braced for a wipeout. Ten-year yields surged above 4% amid worries overly loose monetary policy might fan inflation. That, in turn, fueled fears of a wave of corporate defaults. Now, the oppositeRead More