Despite the ongoing trade spat between US and China, global financial agencies still see China's considerable economic growth, even surpassing that of the government's initial target. Meanwhile, Asian growing economy, India is eyeing 7 percent increase in GDP this year, the highest in the region.
A report from the South China Morning Post confirmed the effects of the trade conflict fought between Beijing and Washington, in the former's Q2 2018 result. According to the news outlet, the country's economic growth has "slowed only slightly." This relatively favorable rate may continue to go on until next year that is if the US-China trade war won't come to a halt.
The initial US trade policy puts increased levies on industrial products imported from. The latest proposal, however, is set to put basic consumer goods like food and electronic products in the line of fire. This could now directly affect the average US citizens, a previous report said.
China, meanwhile, maintains an impressive global market performance with a 6.7 percent increase in its projected gross domestic product figures for April-June (Q2 2018). This is actually way beyond what Beijing has expected.
Still, financial institutions like Capital Economics couldn't discount on the possibility for the growth rate to take a trip down south, with an estimated 5 percent in 2019. That is if the trade war fought between two powerhouses continues.
According to Liao Qun of Citi Bank International, China is expected to hit back on services and investment, as well as putting up new restrictions that could make it hard for US companies to stay afloat in China.
"China's growth rate surpassed the government's target," an update from the Organisation for Economic Cooperation and Development (OECD) was quoted over at the Times of India.
The same report sheds light on India's economic growth spurt which, according to the findings, is expected to hit a record-high of 7.4 percent in 2018.
It is quite remarkable for India to achieve this feat given the economic troubles the country has recently find itself in.
In November 2016, the Indian Government strips value of its ₹500 and ₹1,000 banknotes, immediately causing cash shortages and creating massive disruption throughout its economy.
