China posts slower Q2 growth amid trade tensions
The softening is due to sustained deleveraging imposed on banks and local governments by authorities in Beijing
Beijing
CHINA'S GDP growth softened in the second quarter amid an ongoing clampdown on debt while trade tensions with the US cloud its outlook for the next few months.
The economy grew 6.7 per cent in the second quarter of this year, slightly slower than the 6.8 per cent growth it registered in the previous quarter.
The softening is due to sustained deleveraging imposed on banks and local governments as Beijing tries to lessen its dependence on lending.
The economy has not yet factored in its trade spat with the US which could force factories to shed millions of workers and hamper much of its ex…
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