China slowdown: Global impact

China slowdown: Waking a dozing dragon

Above: Empty barges moored on the Yangtze River near the Jinguan Copper smelter in Tongling, in Anhui province. Factory production has shrunk, and analysts expect the downward trajectory to continue. Top: A woman looking at job advertisements on a wa
A woman looking at job advertisements on a wall in Qingdao, in Shandong province. Reports of mass layoffs at Internet companies prompted the state planner to deny them at a press conference last week. PHOTO: REUTERS
Above: Empty barges moored on the Yangtze River near the Jinguan Copper smelter in Tongling, in Anhui province. Factory production has shrunk, and analysts expect the downward trajectory to continue. Top: A woman looking at job advertisements on a wa
Empty barges moored on the Yangtze River near the Jinguan Copper smelter in Tongling, in Anhui province. Factory production has shrunk, and analysts expect the downward trajectory to continue. PHOTO: BLOOMBERG
Above: Empty barges moored on the Yangtze River near the Jinguan Copper smelter in Tongling, in Anhui province. Factory production has shrunk, and analysts expect the downward trajectory to continue. Top: A woman looking at job advertisements on a wa
A man waiting to deliver goods in Shenzhen, in Guangdong province. Export growth in cities in Guangdong has slowed more than the rest of China.PHOTO: AGENCE FRANCE-PRESSE

Last week, China announced that its economic growth fell to 6.6 per cent, its lowest in 28 years. The Straits Times looks at what this means for Asia and the rest of the world.

China's economy is slowing down and everyone is counting on the government to do something about it.

While the spotlight has been on its ongoing trade war with the United States and the adverse effects on the economy of nearly 1.4 billion consumers, analysts generally agree that domestic pressures played a larger role in curbing growth to 6.6 per cent last year, the slowest since 1990.

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A version of this article appeared in the print edition of The Straits Times on January 29, 2019, with the headline 'Waking a dozing dragon'. Print Edition | Subscribe