Latest Issue
Special Reports
Latest Special Report

China’s economic growth has halved—and it is set to halve again

The immediate problem is the trade war but there are structural issues at home causing deeper malaise 

By George Magnus  

Chinese President Xi Jinping. Photo: Vladimir Smirnov/Tass/PA Images

China announced last week that its economic growth had slowed to 6.2 per cent in the year to the second quarter of 2019, the lowest rate since 1992, and half the rate of the mid-2000s.

The official GDP data tell us next to nothing about how China’s economy is really doing. The figures are manicured to show a trend which lacks any sense of cyclicality or volatility.

Other data, though, allow us to see that the economy slowed through 2018 because…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with our newsletter, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

More From Prospect