35363
China Stumbles
World Economy

China Stumbles

For the first time in almost a decade, China has lost ground in catching up with the US economy, when output is measured in dollars. US gross domestic product increased $590 billion in 2015 from a year earlier, according to data released Friday. China’s economy, while reporting 6.9% growth for the year, added $439 billion, as a weaker yuan sapped the value of output gains in dollar terms, according to data compiled by Bloomberg. “The US has come back from the financial crisis with robust technology innovation leading the recovery, while China’s economy is heading down,” said Niu Jun, an international relations professor at Peking University. “The number itself isn’t a specific reason for being either too optimistic or pessimistic, but if China can’t successfully reform its economy, the real gap between the two will expand, and it will take longer for China to catch up.” Last year was the first time since 2006 that China made no progress in closing the gap with the world’s largest economy.

 

Short URL : http://goo.gl/9m5ZCY
  1. http://goo.gl/gedpxP
  • http://goo.gl/8cxeuE
  • http://goo.gl/oG7iyK
  • http://goo.gl/kft9kE
  • http://goo.gl/3OKB9m

You can also read ...

Mastercard Files Patent to Use Blockchain
Mastercard has filed a patent that reveals it might utilize...
Egypt Growth to Reach 5.2%
The International Monetary Fund expects economic growth in...
Indonesia Growth Accelerating
Economic data released so far this year shows a pick-up in the...
In Europe, the Stoxx 600 index edged 0.103% higher by mid-day in Frankfurt, with similar percentage gains for benchmarks around the region.
Global stock markets followed Wall Street higher Wednesday...
Consumers are starting to realize the extent to which digital services profit from their personal information.
Before the threat of a US-China trade war arose, surging stock...
Household waste recycling installation.
The Circular Economy package, with recycling targets and other...
Beijing Moots India-Nepal-China Economic Corridor
China Wednesday proposed a India-Nepal-China economic corridor...
Gold Rally Coming
Be patient when it comes to gold, says one analyst, projecting...

Trending

Googleplus