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China GDP: economy facing perilous challenges even after Beijing abandons 2020 growth target

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[unable to retrieve full-text content]China’s decision to abandon its economic growth target for 2020 for the first time in its history was not unexpected, but nonetheless was a reminder of the perilous situation facing the world’s second largest economy.The nation’s economy shrank by 6.8 per cent in the first quarter, with some analysts expecting a second successive quarterly contraction, which would send the Chinese economy into its first recession since the end of the Cultural Revolution in 1976.“We still expect 1 per cent…

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[unable to retrieve full-text content]
China’s decision to abandon its economic growth target for 2020 for the first time in its history was not unexpected, but nonetheless was a reminder of the perilous situation facing the world’s second largest economy.The nation’s economy shrank by 6.8 per cent in the first quarter, with some analysts expecting a second successive quarterly contraction, which would send the Chinese economy into its first recession since the end of the Cultural Revolution in 1976.“We still expect 1 per cent…

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