China says its GDP grew by 3.2% in the second quarter of this year, compared to a year ago — beating analysts' expectations and rebounding from the first quarter's contraction caused by the coronavirus pandemic.
This year, China made a rare decision not to set a GDP target due to uncertainties from the impact of the pandemic.
A man works at a construction site in the Central Business District in Beijing, China.Thomas Peter / ReutersStill, there are headwinds ahead as the outbreak that first emerged late last year in the Chinese city of Wuhan has spread globally, infecting more than 13.5 million people worldwide and killing more than 582,000 people, according to the latest data compiled by
Johns Hopkins University.China's statistic bureau acknowledged the risks."Given the continuous spread of the epidemic globally, the evolving huge impact of the epidemic on the global economy and the noticeably mounting external risks and challenges, the national economic recovery was still under pressure," it said in the press release.
Data released on Thursday also showed weak consumption in China.Retail sales were down 1.8 percent in June from a year ago, bucking expectations for a 0.3 percent uptick economists polled by Reuters had predicted. Retail sales declined by 2.8 percent in May from a year ago.
Concerns over thejob market and the lagged impact of bankruptciescontinue to hang over the economy."We are seeing an uneven recovery in China. Return to work, especially factory production, seems to be doing relatively much better," said Johanna Chua, head of Asia economics and strategy at Citigroup.
Looking ahead, there is a question of how much China domestic demand can offset the accumulation in inventory due to weak external demand, Chua told CNBC's"Street Signs.""We're still seeing a lot of concerns of a lack of virus suppression in the major markets," she added.
The world economy is expected to fall into recession this year as many governments globally have implemented lockdowns and limited business activity and social gatherings. Slowing growth in global demand is expected to hurt Chinese exports.This year,due to uncertainties from the impact of the pandemic.Read more: NBC News »
Treasury secretary says new federal unemployment will be available from states 'within the next week or 2'
The White House on Monday initially did not provide a specific timeline for the aid, though the Treasury secretary suggested states could deliver within two weeks.
No wonder....that’s where we went for all our medical supplies!! China has the most to lose futuristically speaking, when international stupidity happens And the commit no civil rights violations either. Last Sunday, a Korean diva Sohyang sang a song on the JTBC's busking program. She performed it for some labors of POSCO with famous K-artists. Please enjoy her beautiful and powerful voice. 'I will always love you.'
How does anyone believe anything that the Chinese government throws out? Tell me lies tell me sweet little lies 🎶 Imagine that. The origin of the pandemic prospers, while the US flounders without end in sight. How much more feckless can this administration be? Lie to me a little more PLEEEEEEEEEASEEE!!
U.S. says room for sanctions in response to China in South China SeaThe top U.S. diplomat for East Asia warned on Tuesday that Washington could respond with sanctions against Chinese officials and enterprises involved in coercion in the South China Sea after the United States announced a tougher stance to Beijing's claims there. RT : U.S. says room for sanctions in response to China in South China Sea Yes! The United States of Sanctions. China tie South China Sea with every Chinese, guess not going to work
US-China: Pompeo dog photo has netizens asking if US is toying with ChinaA tweet by the US secretary of state has led to speculation over whether he is trying to send a message to the Chinese government 🤣👌
U.S. to back nations that say China violated their South China Sea claimsU.S. Secretary of State Mike Pompeo said on Wednesday the United States will support countries that believe China has violated their maritime claims in the South China Sea but suggested it would do so through diplomatic rather than military means. china's already got deals with them. this area is the neck of china, the US alway thought they could choke china to death with a blockade here. but plans made in the 60s are a bit out of date, no one expected artifical islands back then. 🇵🇭 Ouch looking rough
Stock market news: Global stocks tumble after China GDP data - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Whenever I hear any positive financial news out of China I automatically think luckincoffee Barnes_Law Business insider globalists tool
Gold steadies above $1,800 on rising virus fears, U.S.-China tensionsGold prices steadied on Wednesday to hold firm above the psychological level of $1,800, as worries over surging coronavirus cases and simmering U.S.-China tensions cemented demand for the safe-haven metal. It'll get real fun when the dollar is monopoly money. Even the price is $100K people will buy ✅
Trump rails against Biden, China in Rose Garden stemwinderTrump today turned a news conference about Hong Kong into an extended diatribe against Joe Biden, attributing dozens of policy ideas to him that appeared drawn from opposition research Narcissistic sociopath says what? It’s an election year so...🤷🏽♂️ People need to hear what the Biden camp is REALLY all about. Socialists who will destroy the American way. Our whole way of life will change. Ohio Michigan Pennsylvania and more will lose a lot of jobs. Forget having police. ALL borders open. Free money for illegal aliens.