China's growth dropped last quarter to its lowest level in nearly three decades. The world's second largest economy continues to be affected from the trade war with the United States.
China's GDP grew by 6% in the three months to September 30, the weakest quarterly growth rate since 1992. This is down from 6.2% in the April-June period.
Trade issues with the US are the key factors affecting business and investment activities.
Domestic stimulus policies are being used to help the situation. Economic stimulus consists of attempts by governments or government agencies to financially stimulate an economy. An economic stimulus is the use of monetary or fiscal policy changes to kickstart growth during a recession. Governments can accomplish this by using tactics such as lowering interest rates and increasing government spending.
This is the graph of GDP per Capita of China and India. The comparison shows how amazing China's growth has been:
China GDP per capita in 2017: $8,826.99 USD
China GDP per capita in 2016: $8,117.27 USD
China GDP per capita in 2015: $8,069.21 USD
China GDP per capita in 2014: $7,683.50 USD
China GDP per capita in 2013: $7,077.77 USD
China GDP per capita in 2012: $6,337.88 USD
China GDP per capita in 2011: $5,633.80 USD
China GDP per capita in 2010: $4,560.51 USD