The rising economic power, China has put a damper on their growth to accept. With 7.4 percent now the slowest growth was announced for 24 years. Also your goals you have missed the first time in years.
China’s economy does not grow as slowly as 24 years. The growth of the second largest economy in the world fell to 7.4 percent year on year last year. It is the slowest growth since 1990, the year had been imposed after the bloody suppression of the Chinese democracy movement as international economic sanctions against China.
According to the Statistical Office of Tuesday in Beijing’s economic performance in front of it only grew by 7.3 percent in the fourth quarter as in the quarter compared to the same period last year. This was the goal of the government, which had sought 7.5 percent for the whole year, since the late 90s for the first time – though just barely – missed. 2012 and 2013 respectively 7.7 percent growth had been achieved for the same input from Beijing.
Also possible impact on Germany
The weaker economy will have an impact, according to the president of the European Chamber of Commerce in China, Joerg Wuttke, on the German and European economy. The expectations of growth and margins in China would have to be scaled back in the next two or three years. Also investment is expected to be delayed. “But no one can neglect the market,” Wuttke told Deutsche Presse-Agentur in a reaction in Beijing. “China will be medium and long term again extremely important.”
A special challenges for China experts called the weak global economy, the housing market slowdown and subdued domestic demand. Nevertheless, statistics chief Ma Jiantang evaluated the development of presenting the figures generally positive. The economy was developing in the “new normal” resistant. He saw “positive trends” as stable growth, optimized structure and improved social network.
IMF raised expectations
The industrial production growth slowed last year to 8.3 percent, after he had reached in 9.7. Fixed investment cooled down too and were just made up 15.7 percent over the previous year. In particular, the investment in the overheated property sector fell by 9.3 points to 10.5 percent.
Because of the worsening growth outlook revised by the International Monetary Fund (IMF) its previous forecast for China on Tuesday by 0.3 points to 6.8 percent this year and by 0.5 points to 6.3 per cent in next year down.
Low commodity prices could swing bring
According to research director Olivier Blanchard, the time set before the global economic outlook from the IMF in Beijing, the gradual decline in growth, however, reflects “the welcome decision economy to reorient toward domestic consumption and away from the real estate sector and the shadow banking “.
Because of the decline in commodity prices could maintain growth in China according to estimates by Song Guoqing, adviser to the Chinese central bank, but a new impetus and yet reach 7.3 percent this year. The State Bank of Communications said 7.2 percent in 2015 before.
In Video: economic growth briefly explained
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