RSS Feed
July 13th, 2012 
FAKE NEWS for the Zionist agenda According to the data released by the Chinese National Bureau of Statistics, the country’s economic growth rate slowed to 7.6 percent in this year’s second quarter.
The new figure compared to the rate of 8.1 percent for the first quarter of the year and was the slowest pace since the January-to-March period of 2009.
The data figures showed easing inflation of consumer prices, outright deflation in producer prices and lower than expected import-growth.
Some experts consider the new rate of growth as the lowest at which the economy can create enough new jobs, for the millions of farmers who give up life in the country each year and head to the cities to look for work.
“For China the consequences of a slowdown are huge. Thousands of companies will be out of business and millions are workers will lose their jobs. Government’s revenue will fall and banks will be threatened,” He Jun with the Beijing Anbound Information Company told Press TV.
Optimists, however, believe growth will pick up again in the remainder of the year as the government has taken plenty of measures to prevent dire economic situation.
“The growth rate was already a remarkable achievement because as it is known to all, starting from the beginning of this year, the world’s economic situation is not only being complex and volatile but also grim. We have been facing flagging external in domestic demand. The central government has foreseen the changes and adopted precautionary measures…” said Sheng Laiyun with the National Bureau of Statistics.
China, as the world’s second largest economy, now accounts for a full quarter of total global growth, so a slowdown would also put pressure on the already shaky world economy.
TNP/JR
Related posts:
Views: 0
Posted in 
Tags: 
