Nama : Azhar Condronegoro

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Article : China’s Economic Growth Slows as Challenges Mount

SHANGHAI — China’s economic slowdown worsened in the July-to-September period,
according to data released on Friday, as the trade war with the United States and a host of
other problems leave Beijing struggling to meet its goals.
The figures show China continues to grow at its slowest pace in nearly three decades of
modern record-keeping. While China is still expanding faster than any other major economy,
Friday’s data suggest that the pace could come in at the low end of Beijing’s official target,
which could add to worries about broader prospects for global growth.
China's efforts to tame its addiction to lending and the deepening impact of the trade war have
been major drags on the economy. Other problems are worsening, as the country’s vast
automotive sector shrinks, as its real estate sector levels off and as its pigs die in vast numbers
from a swine fever epidemic.
China’s economic output grew 6 percent in the third quarter compared with a year earlier,
according to official statistics, the bottom end of Beijing’s full-year target of 6 percent to 6.5
percent. In the first three-quarters of the year, its output grew 6.2 percent compared with a
year ago.
China’s growth was set to slow down from the torrid pace of past years. Its economy is now
twice the size it was about a decade ago. Its labor force is shrinking, and the country is
already full of roads, rails and factories, limiting potential new investment.
The question is whether there are any sharp dips along the path to ever-slower growth.
“What policymakers want is to make the process as long and as gradual as possible,” said
Larry Hu, the head of China economics at the Macquarie Group, a big Australian financial
services company. “The biggest challenge is to find new growth drivers from consumption
and technology, as old ones such as property and globalization are fading out.”
Mao Shengyong, the spokesman of the National Bureau of Statistics, said at a news briefing
in Beijing that the economy was not faring so badly given global difficulties like slowing
international trade. “The national economy is generally stable, the economic structure is
continuously optimized, and people’s livelihood and welfare are continuously improved,” he
said.