China’s slowdown looms just as the world looks for growth

On Monday, Chinese officials said that, during the last three months of 2018, the economy grew at its slowest pace since the global financial crisis.

China economy, China growth, China growth fall, China growth decline, China economy decline, Davos 2019 China, Chinese economy dip, Indian express, latest news — In the past, China has helped the world out of such weak spots, most notably during the global financial crisis. But this time, its economy is showing pronounced weakness. (Reuters)

(Written by Keith Bradsher)

In the vast metropolis of Chongqing in western China, three huge Ford Motor assembly plants have slowed to a fraction of their earlier pace.

In the eastern province of Jiangsu, hundreds of chemical factories have closed.

In Guangdong province in the southeast, factories have idled workers in droves.

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China's GDP growth lowest in 28 years

China's Gross Domestic Product grew by 6.6% in 2018. Industrial output is down and the trade wars have definitely taken a toll on the Chinese economy.

China’s huge economy, a major driver of global growth, is cooling just when the world needs its spark. On Monday, Chinese officials said that, during the last three months of 2018, the economy grew at its slowest pace since the global financial crisis.

It is happening at a difficult time. The broader world outlook is beginning to dim. The US economy, which has powered ahead in recent years with strong growth and low unemployment, is showing some signs of a slowdown and is facing higher short-term interest rates that could act as a brake. Europe’s resurgence is beginning to show its age, too, with even Germany’s industrial engine starting to sputter.