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In an effort to prop up its sluggish economic growth, the Beijing administration announced a series of measures including tax cuts and infrastructure spending last week. The announcement comes as the world’s second largest economy has been battling a slower pace of GDP growth amid the prospects of re-negotiating trade deals with the United States.
Economic growth in China has been the weakest in nearly thirty years. This is largely due to softening domestic demand and the trade wars with the United States since the Trump administration took over in 2016.
The Chinese Premier, Li Keqiang said last week that the government was targeting a growth rate of 6.0% – 6.5% for 2019. The announcement came after Keqiang gave his opening remarks at the annual meeting in the parliament.
The target is lower than the 6.6% growth rate seen in 2018. However, the GDP targets were broadly in line with the general exp...
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