NEWS
China 2016 growth slides to 26-year low: AFP poll
By Benjamin CARLSON | AFP – Wed, Jan 18, 2017 6:49 AM AEDT
China's crucial manufacturing sector is struggling in the face of sagging global demand for the nation's products and excess industrial capacity left over from an infrastructure boom
China's growth slipped to its slowest rate in more than a quarter of a century in 2016, an AFP survey has forecast, as analysts see mounting risks for the world's number two economy with Donald Trump heading for the White House.
While the Asian giant is a key engine of the global economy, affecting businesses and employment across the planet, its leaders are trying to shift from reliance on exports and infrastructure investment as a growth driver to consumer spending.
But the transition has proved bumpy, with the crucial manufacturing sector struggling in the face of sagging global demand for the nation's products and excess industrial capacity left over from an infrastructure boom.
Added to that is a volatile yuan, large-scale capital flight and a mounting concerns about a rapid surge in debt levels after Beijing flooded the market with credit to maintain growth in the face of a sluggish global economy.
And now Beijing has another headache with Trump threatening massive tariffs on Chinese goods over what he sees as unfair trade practices and calling it a currency manipulator.
READ MORE: https://au.finance.yahoo.com/news/china-2016-growth-slides-26-194935762.html
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