China’s economic growth slips into single digits

The Times (UK)
China’s economic growth slowed in the third quarter of the year, slipping into single digits for the first time in four years, as the impact of an international slowdown seeped into the world’s fastest-expanding major economy.

The gross domestic product growth rate slowed more sharply than expected to 9 per cent in the July-September period – from 10.1 per cent in the second quarter – as the impact of the global credit crisis and weakness in the domestic property sector was felt.

File photo shows an unemployed man begging on a Beijing street. ...
An unemployed man begging on a Beijing street. China’s economic growth has slowed to 9 percent in the third quarter as global financial woes started taking a toll on the country’s staggering development the government has said.(AFP/File/Peter Parks)

Li Xiaochao, spokesman for the National Bureau of Statistics, said: “The international financial market is slowing down noticeably and there are more uncertain and volatile factors in the international climate.

“All these factors are starting to release their negative impact on China’s economy.”

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2 Responses to “China’s economic growth slips into single digits”

  1. Oprea Andrei Says:

    At lest it is a real growth and not a drepression

  2. Alex Says:

    Yes it is normally when the whole world is in recession the biggest supplier to be slow a little bit. And I think if this get deeper it will be very big problem for China.

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