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China Faces Broad Economic Slump as It Seeks Trade Fix With U.S.
Value added industrial output in China increased by only 4.4% in August, showing deteriorating economy. Fixed asset investment outside rural areas, was up to 5.5% in Jan-August 2019 compared to year earlier period. Premier Li Kequiang says "Against the backdrop of a complicated international situation and given the higher base of comparison, it is not very easy for China to still sustain a medium to high growth speed of above 6%."
China's economy expanded at 6.3% in the first half of 2019- the government's target is between 6 and 6.5%.
In the light of this situation in the economy China is taking aflexible approach to trade negotiations with U.S. trying to separate issues of competition and technology of the long run from trade, and seeking areas of agreement after the rhetoric of the past 6 months.
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