Senior China official says trade war with U.S. could cut growth by 1% point: SCMP

Senior China official says trade war with U.S. could cut growth by 1% point: SCMP

May 17, 2019 Off By readly




BEIJING (Reuters) – A senior official of China’s ruling Communist Party said the trade dispute with the U.S. could reduce China’s growth pace this year by as much as 1 percentage point, the South China Morning Post reported on Friday, citing an unnamed source.

The paper said Wang Yang, a member of the Communist Party’s seven-person Standing Committee, told a delegation of Taiwanese business people whose firms are based in China that the worst-case scenario from the trade war was a 1 percentage point drop in GDP growth this year.

Beijing has set a growth target of between 6% and 6.5% for 2019.

Reporting by Beijing Monitoring Desk

Source of this (above) article: https://www.reuters.com/article/us-usa-trade-china-growth/senior-china-official-says-trade-war-with-u-s-could-cut-growth-by-1-point-scmp-idUSKCN1SN155?feedType=RSS&feedName=topNews