China's Economy Slows to Lowest Level in almost 30 YEARS

Chinas economy grew at slowest pace in 28 years in 2018

China isn't set to come to the rescue of a weakening world economy even amid signs policy makers are successfully cushioning some of its slowdown. "Both the number of domestic trips and tourism revenue went up more than 10 percent, and the movie box office revenue topped 60 billion yuan, up almost 10 percent", Ning said.

"The economy is going through a soft phase, with continued headwinds from slowing growth in credit, industrial profit and housing sales".

Beijing has also said it will pass other measures to stimulate growth, including cutting taxes and making it easier for banks to lend.

Earlier this month Apple issued a rare earnings warning, blaming a slowdown in sales on China's weaker consumer spending power.

"The China-US trade tensions, a hindrance to China's domestic economic transformation and upgrading, coupled with lack of confidence from investors, resulted in the nation's declining GDP growth in 2018", said Dong Dengxin, director of the Finance and Securities Institute at Wuhan University of Science and Technology.

The U.S. trade deficit with China grew to a record $323.3 billion in 2018.

Manufacturing is also contracting.

As for the new economic engines for Chinese economy, he sees potential in the Greater Bay Area.

China's more than $13 trillion economy will likely stabilize in the second half of 2019 without the need for aggressive stimulus, according to Goldman Sachs Group Inc.

There is evidence that the slowdown may be worse than the official figures indicate. Other Chinese analysts were more dower.

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However, Pellegrini admitted that stance could change with an increased offer that would benefit both the club and the player, 29. But the club doesn't want to sell him".

There were 15.23 million live births in 2018, a drop of two million from the year before, data from the National Bureau of Statistics (NBS) showed.

He pointed to "complicated and severe external environment", effectively acknowledging the effect of Washington's trade conflict.

WORLD OUTLOOK: The IMF cut its forecast for global growth this year to 3.5 percent from the 3.7 percent it had predicted in October and down from 2018's 3.7 percent.

Overall credit growth decelerated every month previous year. "Weak exports and investment restraint are already having an impact on growth", he added.

The Chinese government is treading a narrow path in seeking to stimulate growth.

China and the United States have been engaged in a trade war since US President Donald Trump announced in June that $50 billion worth of Chinese goods would be subject to 25 percent tariffs in a bid to fix the US-Chinese trade deficit. According to a Moody's analysis, the amount of new capital investment needed to generate a given unit of GDP growth has doubled since 2007.

Surprising contractions in December trade data and factory activity gauges in recent weeks have suggested the economy cooled more quickly than expected at the end of 2018, leaving it on shakier footing at the start of the new year.

The World Bank report produced earlier this month warned of "storm clouds" with lower growth expected in the major economies. China adjusted its economy and maintained medium-to-high-speed growth, showing resilience as the world's second largest economy. Its GDP increased by Rmb7.3 trillion ($1.08 trillion) previous year, capping at Rmb90 trillion ($13.26 trillion).

Problem is China depends on strong growth to relieve debt pressure and many analysts fear its actual GDP and related growth is far lower than reported.

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