By Admin 
China Big Tension: Recently a report has come out that India is at the forefront in importing goods from China. That means the people of India like Chinese goods so much that China’s exports are increasing. But despite this, China’s economy has slowed down a bit. So slow that despite the decline in exports to India, India has overtaken China in terms of GDP growth.
China’s pace slowed down
In fact, according to a recent report, China’s GDP growth is 4.3 percent. According to China’s GDP growth report released on Wednesday, the growth rate of the April-June quarter has become lower than the January-March quarter. China’s GPD growth rate between January and March was 5 percent. This is the first time in many years that the pace of China’s economy has been so slow, which even economists had not predicted.
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India defeated China
This time India has also defeated China significantly in terms of economic growth. According to the data released recently, India’s GDP growth rate has been recorded at 7.8%. Which may become even better in the future. Whereas India imports a large amount of goods from China. So the rate of export of goods from India to China is very low.
Why is China’s GDP decreasing?
A few days ago, UBS China Chief Economist Yu Song had talked to CNBC, during which he expressed concern about China’s GDP. He has given three main reasons for the fall of this GDP. According to him, AI growth has nothing to do with it but China only benefits from it.
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Yu Song has cited the real estate crisis as the first reason for this. China’s property market has declined significantly for quite some time. People here are focusing more on saving than buying property.
The second reason is that the people of China are avoiding spending, in fact due to the US-Iran conflict, fuel prices have increased in China too. Because of which people are moving away from expensive branded goods and looking for cheaper options.
One reason for the decline of China’s economy is that employment here is decreasing. One reason for this is AI, although China is also benefiting from it. But the work of workers has reduced considerably.