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What happened: At the end of 2019, China's growth rates have been minimal since 1990, falling down to 6.1%. This fall is half as much as we observed back in 2007 and 2010. Back then the rapid growth of China's GDP became one of the most important factors for the restoration of optimism on the markets. For the last several years, China’s influence on the global economy has grown significantly, and from the drivers of global GDP growth, it can turn out as a drag.
What really happened: Along with annual and quarterly data, China also rolled out more modern — monthly — data on retail sales and industrial production in the country. In both cases accelerated growth rates have been identified. It’s also worth understanding more globally that over the past 10 years, China’s GDP has almost doubled so that a twofold slowdown in growth still provides a similar effect on the global economy.
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