China economic growth falls to lowest in 24 years
Jan 20th 2015
Although, China GDP showed 7.3 % increase during the final quarter of the year matching the third quarter level and beating slightly the market expectations of 7.2%, the overall economic growth slipped in 2014. In fact, Chinese economy recorded its weakest level since the last 24 years, amid problems of overcapacity, a weak housing market and lower global demand.
According
to analysts forecast, a slowdown in China’s
economy would likely cause some damage to the US economy and will affect the oil
prices. Meanwhile, the International Monetary Fund cut its global growth
forecast for 2015 to 3.5%.
