Thanks to years of robust growth China has managed to transform itself from a struggling nation to the second largest economy in the world. But credit and subsidies have bankrolled much of that growth. When will the bubble burst?
The ten-member ASEAN and its partners are meeting this week amid worries the US-China trade row will negatively impact the region. The summit is expected to see progress made on a China-backed regional trade pact.
Chinese shoppers have spent more than $30 billion online during the annual shopping binge, breaking last year's record. The massive spending comes despite an ongoing trade war with the US.
A major train derailment in the Australian outback has halted a chunk of the country's iron ore exports to China. The incident exposed the fragility of miners' supply chains and their dependence on growth in China.
The National Bureau of Statistics said that while growth has slowed, it still managed to remain relatively steady. Beijing has decided to focus on consumer spending to ride out a trade spat with the United States.
© 2018 Deutsche Welle |
Legal notice |
| Mobile version