As Chinas policymakers convene at this weeks twice a decade
economic meeting,
they are under pressure. They're under pressure to increase support
after a decline in consumer spending dampened and export boom.
Take a look at this next report.
Chinas twin track economy is generating doom and gloom.
Headlines about domestic woes one moment and growing fears around
the world about the dominance of its manufacturers the next.
Conflicting signs on Monday indicated that industrial production is strong
but consumption is lackluster due to the prolonged property downturn.
As a result, the pace of GDP growth for the
June quarter was the worst it has been in five
quarters.
However, a glimmer of hope is emerging.
XI Jinping's persistent pursuit of high quality growth driven by
technology is now bearing fruit.
While the US and the Japan saw significant economic downturns
as a result of their housing markets,
China has been able to maintain economic growth close to
its target of about 5%,
driven by technological advancements and export boom.
At the Third Plenum, she and other senior Communist officials
meets to discuss economic strategy for the future.
Still, a substantial obstacle is blocking their path.
The disappointing retail sales figures for June indicate that Chinese
consumers still haven't bought into the height.
The economy, though, has been able to weather the storm
with the influx of inexpensive electric vehicles and solar panels
into global markets.
However, this has provoked a protectionist reaction from the governments
in the US and Europe.
The recession in the real estate market is also weighing
heavily on the economy,
despite billions and billions of dollars in stimulus.
What's adding to the already complex mix of risks is
growing bets of Donald Trump winning U.S.
presidential elections, according to political experts.
After the assassination attempt over the weekend and Trump's bleeding
fist pumping exit from the stage in Pennsylvania,
things could get even rougher if he is re elected
in November.
Trump has threatened to impose
60% tariffs on Chinese imports,
and she's view the protectionist attack served to fortify his
determination to make China self-sufficient in key areas like high
tech computer chips so that the country can weather any
storm in trade or military tensions.
If China can find the United States LED containment efforts,
a Bloomberg analyst predicts that Beijing's high tech industry will
contribute
19% of GDP by 2026,
up from 11% in 2018.
For now, though, the risk point to a significant economic
downturn in China.
Beer report we on world is one.