China economy slows; officials say recovery ‘unstable and uneven’

China’s economy has grown at a slower rate than expected in the third quarter.
According to official figures the world’s second largest economy expanded by 4.9 percent - down 3 percent from the previous quarter.
Nationwide power outages and supply bottlenecks hurt factories while sporadic COVID-19 outbreaks have hampered consumer demand.
The country’s largest real estate developer Evergrande is struggling to pay back $300bn worth of debt, fuelling fears among housing investors.

Al Jazeera's Katrina Yu reports from Beijing, China.


#China #ChinaEconomy #ChinaGDP

[Spaceballz]

If you believe China's official GDP then I have a condo in Antarctica to sell you

[harshdhillon]

Chinese growth speed is decreasing from last 10 years because china is becoming mature now, undevlop countries grow at unbelievable pace but when they become bit devlop they start growing slowly, chinese economy still have very bright future and deffinately going to overtake america by 2030 but this is not what acctual compitation for china, their acctual compitation is now on beginning of his gerney with economic growth in 1st 3 months of 2021 is 22%, it was best of all time of course because of pandemic crises...

[SvPVids]

you can imagine how bad the numbers really are if they are admiting this much of a downturn.

[wangsamaju]

let them grow slower, don't buy goods from them. can you?

[sepilokfui]

disappointing rate? hahahahahahahahah, give it to us, 4.9% is better than any where I know....

[sepilokfui]

The rapid rate of growth throw the years is making many chinese suffocating in the inflation of cost of living. I salute the Chinese government to take necessary measures to trade off the growth, that is not politics, that is good administration.

[QuietJagung]

Dishonest AJ did not say YTD is 8.9% and Q3 expectation was 5% so result is only slightly off. Still 4.9% is great for such a large economy.

[katycat]

Lol!!!!


And never compare China with the 2nd greatest country on earth.

[tjmarx]

What a bs take. Foreign investment in China will go up on the back of this news, the AJ will pretend to be surprised.

China is currently implementing regulations that will both bring it into line with the rest of the world and provide long term stability to the economy. It's been going down this path for a couple of years now, and today's growth figures come off the back of new financial sector and real estate regulations.

To see GDP only revised down by 1.1 points in that kind of environment is huge. The market was predicting much larger revisions, so today's news will give investors confidence.

China is also looking to decouple itself from the west. It doesn't want to be interdependent anymore, it wants to shop in developing countries where it knows by investing in infrastructure itself it can get reliable natural resources at scale, and drag down market prices along with it. This strategy will place China in a stronger medium to long term economic and geopolitical position whereby we will see economic contraction in western resources exporting nations.

As China focuses more on domestic retail growth over exports, that's going to be a win-win for China.

Dark days are coming for us in the west.

[amanjaiswal]

India on the other hand regains the crown of becoming the fastest growing Major economy in the world with growth rate of 20% last quarter and growth projection of 9.5% and 8.5 % for the next 2 years.

[pauldirac]

China say it economy will grow more than 6 percent this year. But the Western institutions say it will grow at 8.4 percent. 😹😹.

[rdpowel]

4.9% is still good! That means 9% growth total now for 2021 if Q4 jumped China will have double digit growth.