China’s growth in 2016 slumps as Trump trade struggle looms
BEIJING — China’s economic growth sank to a three-decade low in 2016 as its struggling exporters brace for a possible trade battle with President-elect Donald Trump.
Growth in the quarter ending in December ticked up to 6.8 per cent over 2015, supported by government spending and a real estate boom, a gain from the previous quarter’s 6.7 per cent, government data showed Friday. Still, for the full year, growth came in at a lacklustre 6.7 per cent, down from 6.9 per cent in 2015 and the weakest since 1990’s 3.9 per cent.
That temporary upturn is unlikely to last, economists said.
“We expect clearer signs of a renewed slowdown to emerge during the next couple of quarters,” said Julian Evans-Pritchard of Capital Economics in a report.