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China’s Economy Squeezed as Trade War Takes Its Toll

Squeeze

Trump’s strategy of pressuring China seems to be working:

China’s economy and stock market are showing signs of softness amid an ongoing trade war with the U.S.

On Monday, the country’s Bureau of Statistics announced that manufacturing activity shrank in December – for the first time in more than two years. China’s Purchasing Managers’ Index was 49.4 this month, which was the weakest level recorded since February 2016, according to Reuters. It was the result of a drop in new export orders.

Meanwhile, the major Chinese stock index suffered double-digit losses in 2018. The Shanghai Composite fell more than 24 percent for the year, its largest annual decline in a decade.

During the third quarter, China’s GDP growth missed expectations, coming in at 6.5 percent.

The Trump administration has imposed tariffs on about $200 billion worth of Chinese imports. He had threatened to raise the tariff rate to 25 percent, but during the G-20 summit in Buenos Aires earlier this month Trump agreed to hold off on increasing tariffs for at least 90 days while negotiations continue.

 
Doomberg

Written by Doomberg

I am Doomberg, one of the original founding members of Sparta Report, and have been here since the beginning. I am an insatiable news junkie and enjoy reading and writing about the US territories, the Caribbean, video games, smartphones, and of course conservative politics in general.

I also really like pictures of gas stations and claim full responsibility for the silly gas station motif. I'm presently trapped behind enemy lines in a blue state with no hope of escape! The ride never ends.

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