China's economic growth among slowest in decades

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China's economic growth among slowest in decades - Channel News Asia

Quick Summary:

BEIJING: China recorded one of its slowest rates of economic growth in decades last year, data showed Friday (Jan 17), as leaders nervously eye a potential trade standoff with incoming US president Donald Trump.

"China is suffering from a crisis of confidence, not one of credit; families and firms do not have the confidence in the economy to warrant borrowing, regardless of how cheap it is to do so," he wrote.

But gathering storm clouds over the country's massive trade surplus mean that Beijing may not be able to count on exports to boost an otherwise lacklustre economy.