{"id":227,"date":"2008-07-17T15:52:11","date_gmt":"2008-07-17T15:52:11","guid":{"rendered":"http:\/\/www.the-finance-zone.co.uk\/?p=227"},"modified":"2008-07-17T15:52:11","modified_gmt":"2008-07-17T15:52:11","slug":"slowing-exports-curb-china-growth","status":"publish","type":"post","link":"https:\/\/the-finance-zone.co.uk\/index.php\/2008\/07\/17\/slowing-exports-curb-china-growth\/","title":{"rendered":"Slowing exports curb China growth"},"content":{"rendered":"<p class=\"first\"><strong>Chinese economic growth slowed in the second quarter of 2008, constrained by slowing demand for exports, rising prices and the high cost of credit.<\/strong><\/p>\n<p>The National Bureau of Statistics said the economy grew at an annual rate of 10.1% in the three months to June, down from 10.6% over the previous quarter.<\/p>\n<p>If it keeps growing at a double-digit pace, then China may overtake Germany as the world&#8217;s third-largest economy.<\/p>\n<p>Beijing has been trying to curb rising food costs amid fears of social unrest. <!-- E SF --><\/p>\n<p>Consumer price inflation also cooled to an annual rate of 7.1% in June &#8211; a decline from 7.7% in May.<\/p>\n<p><a href=\"http:\/\/www.the-finance-zone.co.uk\/wp-content\/uploads\/2008\/07\/china_workplace.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-228 alignright\" style=\"float: right;\" title=\"china_workplace\" src=\"http:\/\/www.the-finance-zone.co.uk\/wp-content\/uploads\/2008\/07\/china_workplace.jpg\" alt=\"\" width=\"226\" height=\"170\" \/><\/a>But with producer prices rising to an annual rate of 8.8% in June &#8211; the fastest pace of growth since the mid-1990s &#8211; the expectation is that the government will go further to make sure that these costs are not passed on to consumers.<\/p>\n<p>&#8220;While inflation has been easing, it is still at a fairly high level,&#8221; said Li Xiaochao, the statistics bureau&#8217;s spokesman.<\/p>\n<p>&#8220;If prices stay high for a long period, it&#8217;s not good for the stable development of the economy and will affect people&#8217;s lives, especially those with low incomes.<\/p>\n<p>&#8220;So we have to continue with price controls to control inflation,&#8221; he added.<\/p>\n<p>Analysts considered that the growth figures were in line with expectations and despite signs that the economy has peaked, double-digit growth is still expected for the full year.<!-- E BO --><br \/>\n<a href=\"http:\/\/www.the-finance-zone.co.uk\/wp-content\/uploads\/2008\/07\/china_workplace.jpg\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chinese economic growth slowed in the second quarter of 2008, constrained by slowing demand for exports, rising prices and the<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","footnotes":""},"categories":[12],"tags":[],"class_list":["post-227","post","type-post","status-publish","format-standard","hentry","category-economy"],"_links":{"self":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/227","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=227"}],"version-history":[{"count":0,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/227\/revisions"}],"wp:attachment":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=227"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=227"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=227"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}