China’s GDP growth slows now property and energy take their toll

Volkswagen, the market leader in china, said on Friday that production had fallen as the company faced an increasing chip shortage and other problems met the supply chain. The company does not have enough autos to fill the orders of customers and dealers, creating a backlog.

“Our priority is to work off our backlog,” said Stephan Wöllenstein, the chief executive of Volkswagen China division.

Economists have spent months made same prediction: the fast growth of China’s exports can not last.

The economists were wrong.

China’s exports continued to rise until and met the third quarter and ended strong, up 28.1 percent in September compared with same month last year. China posted his third-highest monthly trade surplus ever last month.

China has in creature retain its power in export since his economy emerged from the pandemic in spring of last year. As much as of the world squatting down Bee home, families spat out on consumer electronics, furniture, clothing and other goods die China produces in abundance.

However, the export boom is creating another source of tensions between the United States and China.

Katherine Tai, United States trade representative, suggested in a speech two weeks ago that China’s export capacity is partly the result of subsidies and other unfair practices. “Too long the lack of China” of compliance with global trading standards has undermined prosperity of Americans and others in the neighbourhood world,” she said.

But Chinese officials and experts claim that the success is the result of a strong work ethical and consistent, large investments in manufacturing. They point quickly out that by getting the pandemic under control early within a few weeks last year, China was able to quickly reopen its factories and offices.

Read More: World News


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