China will announce 6.6% economic growth in 2018, the slowest in the last 28 years due to falling domestic demand and US tariffs, which will increase pressure for Beijing to take further stimulus measures to avoid a sharp slowdown according to analysts, Reuters reports.
The growing number of weaknesses in the Chinese economy, which in the last decade has generated almost a third of global economic growth, raise concerns about global risks and have a negative effect on Apple's profits for leading car manufacturers , according to News .com.
The Chinese government has promised new measures to support the economy this year to reduce the risk of serious job losses, but has excluded a "wave" of incentives similar to past measures that have stimulated growth of GDP but have left a mountain of debt.
Analysts expect a 6.4% increase in the second world economy in the fourth quarter, compared to the same period last year, to 6.5% in the third quarter, and similar to the advancement from the beginning of 2009, during the global financial crisis.
Throughout 2018, economic growth would have been 6.6%, the lowest since 1990 and 6.8% in 2017.
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The new stimulus measures will take some time to come into force, so analysts expect the situation to get worse before improving, and economic growth will slow down to 6.3% this year. Some analysts already believe that the rate of growth is much slower than official data suggest.
Although China and the United States agree a trade agreement in the current negotiations, analysts argue that it will not be a general solution for the Chinese economy if Beijing fails to stimulate investment and consumer demand.