China has posted the weakest growth in the last 29 years as the trade war stiffened. But, 2019 has ended on a firmer note. China has been sputtering investment to prepare for the long-drawn US-China trade deal. 2020 is expected to witness more stimulus steps to help avert a sharper slowdown.
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Data revealed on Friday confirmed that the world’s second-largest economy ended 2019 on a firmer note as trade tensions eased. Experts suggest that a raft of growth-boosting measures over the past two years may finally take hold in 2020. 2020 will be extremely crucial for the ruling Communist Party to fulfill its goal of doubling GDP in the upcoming decade, turning China into a “moderately prosperous” nation.
Source: https://www.reuters.com/article/us-china-economy/china-posts-weakest-growth-in-29-years-as-trade-war-bites-but-ends-2019-on-firmer-note-idUSKBN1ZF2YR
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