China’s economy grows 6.1% in 2019

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CHina’s chief negotiator in the trade war, Deputy Prime Minister Liu He, had already revealed in Washington what the Beijing Statistics Office has confirmed this Friday: There can be no question of a weakness in the Chinese economy – at least if you follow the official figures.

China’s gross domestic product grew by 6.1 percent last year. According to a general definition, value measures the value of all goods and services produced. Even though the Chinese economy grew so slowly 29 years ago, 6.1 percent is still ten times more than the value of the German economy last year. The American economy has not even grown half as fast as China’s in 2019.

The fact that the growth rate in the People’s Republic was only 3.9 percent at the time, in 1990, had to do in particular with the massacre on Tiananmen Square in the previous year and its estimated thousands of deaths. It plunged the country and its economy into a deep crisis for years, in which the foreign economy also withdrew from the world’s largest market, at least for a brief moment.

6.1 percent in 2019 – on the other hand, that’s not just a decent value because it lies within the range of six to 6.5 percent, the Chinese government last spring, as always, at the session of the National People’s Congress, the bogus parliament, had set as the target.

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