China Slashes 2020 GDP Growth For Provinces As Widespread Slowdown Persists

Zero Hedge | 1/22/2020 | Staff
FirefangFirefang (Posted by) Level 4 slowdown.png?itok=_ESIaxgU

With phase-one talks signed last week, China's GDP growth in 2019 plunged to a 29-year low amid massive credit stimulus that has widely been ineffective to boost growth but has somewhat stabilized the economy.

China's largest utility company State Grid has warned that the rate of economic growth in the country is expected to slide to 4% in the next four years.

Report - Tuesday - China - Slowdown - Coronavirus

There was even a report on Tuesday showing China has already blamed the 2020 economic slowdown on the coronavirus epidemic that has already killed nine with at least 440 people infected in the country and spreading across the region, along with a new case in the U.S.

The Communist Party of China has been quick to blame the slowdown on external factors, such as the trade war and other protectionist policies of President Trump, rather than their failures of amassing more than $40 trillion of debt, nearly 304% of GDP.

Data - Level - Regions - Municipalities - Growth

Now we're starting to get more local data, on a provincial level, that shows many regions and municipalities have cut their 2020 growth targets over the prior year, reported...
(Excerpt) Read more at: Zero Hedge
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