Beijing: China's economic growth in the second quarter of the current financial year has been the lowest in the last three decades. The ongoing trade war between the US and China and the lack of demand at the global level have affected China. Due to the slow pace of the economy, China's President Xi Chunfing is facing difficulties in fighting against America.
According to figures released by China's National Bureau of Statistics (NBS), the country's GDP growth is 6.2 percent in the second quarter. This is the lowest in 27 years. Growth in this was recorded in the January-March quarter of 1992. However, this GDP data is consistent with the goal of six to 6.5 percent of the government for the whole year.In this context, NBS spokesman Mao Shengong said, "The situation of the economy on the domestic and foreign front is still very serious. The global economy is softening and external instability and uncertainty are increasing.
China is currently running a trade war with the US. It has got a lot of impact on the industries. In the last three months, Singapore's growth rate was only 3.4 percent, which is the lowest level since 2012. China's imports also declined 1.3 percent compared to last year. The export data also saw a decline of 7.3 percent. South Korea's economy also declined significantly in the first quarter of this year.If the United States had a similar trade war with China, then its fatal consequences could be seen in the coming time. At present, it is not possible to see any kind of ray of hope too.