This country has become the second largest economy in the world


China remains the second largest economa from world in 2018, stated the commissioner of the National Statistics Office, Ning Jizhe. In 2017, the gross domestic product (GDP) of Asian countries reached around 82.71 trillion yuan or 12.86 trillion dollars.

According to published data, China's GDP grew 6.6% in 2018, the worst outcome in the country since 1990, but this figure almost coincides with the annual growth rate of 6.5% set by the authorities. It is also shown that in the fourth quarter of 2018 the national GDP growth rate will slow to 6.4%.

Commercial disputes with the United States

Trade disputes with the United States have an influence on the Chinese economy, said the head of the China National Statistics Department.

The official noted that the differences between China and the US took effect in the second quarter of last year, and the Chinese Government took a series of steps to ensure stability in terms of employment, finance, foreign trade, foreign funds and investment.

"Speaking of economic-trade differences, they affect not only the Chinese and US economies, but the global economy," Ning Jizhe said. Beijing and Washington have launched a trade war since President Donald Trump announced in June 2018 tariffs of up to 25% on Chinese imports worth 50 billion dollars, to reduce deficits that are not favorable for the US in bilateral exchanges.

In early December, on the sidelines of the Group of 20 summit, leaders of the two countries agreed to a ceasefire in a trade war.


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