China growth slows to 27 year low due to trade war...China is starting to pay for decades of corruption and cheating.

China's economy grew at its slowest pace since the early 1990s in the second quarter, official figures showed.

In the three months to June, the economy grew 6.2% from a year earlier. The result was in line with forecasts.

China has moved to stimulate its economy this year by boosting spending and delivering tax cuts.

The country is also fighting a trade war with the US which has hurt businesses and weighed on growth.

The data released on Monday showed China's economic growth rate slowed from 6.4% in the first three months of the year.

US President Donald Trump tweeted that US trade tariffs were having "a major effect" on the Chinese economy.

China’s statistics bureau said the economy faces a complex situation with increasing external uncertainties, Reuters reported. The world’s second largest economy also faces new downward pressures and will try to ensure steady economic growth, the statistics bureau added.

China’s months-long trade dispute with the U.S. has weighed on its economy.

“Uncertainty caused by the US-China trade war was an important factor and we think this will persist, despite the recent tariff truce, ” said Tom Rafferty, principal economist for China at The Economist Intelligence Unit.

“Businesses remain skeptical that the two countries will reach a broader trade agreement and recognise that trade tensions may escalate again,” wrote Rafferty in a note on Monday.

One analyst said he will be watching China’s employment numbers more closely for a better read of the economy.


By: Illumi Naughty (3161.40)

Tags: trump, usa, china, trade war, winning

Location: China