China’s economy grew at a slower-than-expected pace in the second quarter of the year, with a growth rate of 4.3% compared to the same period last year.
Economic Challenges
This slower growth is a rare admission of economic weakness for China, which has long worked to prop up industrial activity with infrastructure investment and exports.
China’s target for 4.5-5% expansion this year is the lowest since Beijing started announcing such figures in the early 1990s, aside from 2020 during the Covid-19 pandemic.
Original reporting: KEYT (Ventura/Santa Barbara) — read the source article.
