Reasons to stay upbeat about Chinese economy

China’s economy has defied doom-mongers again in 2018, and economists believe there are good reasons to remain confident about its outlook.

Although latest economic indicators revealed signs of stress, as industrial profits posted their first drop in three years and consumption growth missed expectations in November, merely focusing on short-term fluctuations will miss the big picture of the economy.

China’s tone-setting economic meeting described problems facing the economy as part of development, noting that the country is still and will be in an important period of strategic opportunity for development for a long time to come.

Despite downward pressure from the Sino-U.S. trade frictions, a rebalancing and deleveraging domestic economy and monetary tightening in certain developed economies, China has maintained stable economic growth, offering certainties to a world mired in uncertainties.

Its GDP rose 6.7 percent in the first three quarters of 2018, putting the economy on track to meet the government’s targeted growth of around 6.5 percent set for 2018.

 

Reasons to stay upbeat about Chinese economy

Chinas economy has defied doom-mongers again in 2018, and economists believe there are good reasons to remain confident about its outlook. Although latest economic indicators revealed signs of stress, as industrial profits posted their first drop in three years and consumption growth missed expectations in November, merely focusing on short-term fluctuations will miss the big picture of the economy. Chinas tone-setting economic meeting described problems facing the economy as part of development, noting that the country is still and will be in an important period of strategic opportunity for development for a long time to come. Despite downward pressure from the Sino-U.S. trade frictions, a rebalancing and deleveraging domestic economy and monetary tightening in certain developed economies, China has maintained stable economic growth, offering certainties to a world mired in uncertainties. Its GDP rose 6.7 percent in the first three quarters of 2018, putting the economy on track to meet the governments targeted growth of around 6.5 percent set for 2018.