China's GDP increases by 6.5% in the third quarter

The escalation of the tariff war between the United States and China could be pbading the bill to the world's second largest economy. This was confirmed by the figures of the third quarter economic activity.

Between July and September the gross domestic product of the Asian giant increased by 6.5% compared to the same period in 2017 or a tenth. lower than the expectations of economists consulted by Reuters and Bloomberg, and two-tenths less than what was expanded in the second quarter.

This is the lowest rate of expansion since the financial crisis and partly decreasing compared to the 6.9% recorded in early 2017. Despite this, the economy remains on track to exceed the government's target of 6.5%.

At the same time, quarterly growth was 1.6% lower than the market forecast of 1.8%.

The National Bureau of Statistics, which published the results, cited among the factors "the extremely complex and serious international situation". He added that the government would work for the stabilization of employment, finance, exports and foreign investment. half of the products that he sends to the world's largest economy. Since July, the Donald Trump government has imposed charges that already affect 250 billion US dollars of Chinese imports.

However, badysts point out that most of the charges were applied towards the end of the quarter, so their impact on the figure may be less. On the other hand, the reading could indicate that the authorities' efforts to control the growth of the debt affect the pace of the economy .

Industrial production also slowed more than expected, with an annual expansion of 6.1% recorded in the second half of the year, reaching 5.8% for the third.

In a statement to the Financial Times, the Cornell American University's commercial policy professor, Eswar Prasad, pointed out that "China's slow growth but robustness hide growing internal and external vulnerabilities". to foreshadow a future slowdown, in the absence of concerted policies. "