In 2018 economy of China grew 6.6%, its slowest pace in almost 30 years, confirming a slowdown in the world’s second largest economy that could threaten global growth. After years of breakneck expansion, the world’s second largest economy is losing steam, official data on Monday confirmed. China’s growth in 2018 was the country’s slowest reported rate since 1990 and down from 6.8% growth in 2017.
There’s good news hidden in China’s tumbling stock markets and slowing economy. A government bid to curb risky lending, clean up industry, and restrain home prices is holding firm even as economic growth heads for its slowest annual pace in almost thirty years and the US trade standoff threatens to deepen.