China’s economy grew at 6.6% in 2018, its slowest rate in almost 3 decades. The world’s 2nd biggest economy was grappling with the effects of the current trade war with the US and declining exports.
In the 3 months to December, the economy grew 6.4% from a year earlier, down from 6.5 % in the previous quarter. China’s National Bureau of Statistics (NBS) stated that last year’s growth rate was down from 6.8% in 2017 and was the lowest since 1990 when the growth rate was 3.9%.
Source: News on AIR
Static/Current Takeaways Important for NIACL AO Mains Exam-
- China Capital: Beijing, Currency: Renminbi.