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Manufacturing was a strong engine for growth last year, with industrial output jumping 5.8% from a year earlier. Total retail sales of consumer goods grew 3.5% at an annual rate.
Now, Trump has said he plans to impose a 60% tax on goods from China and a 10% to 20% levy on all of the $3 trillion in foreign goods the U.S. imports annually.
In 2015, China devised "Made in China 2025", the government's ten-year plan to update national manufacturing base by rapid development of local high-tech industry. [ 3 ] The phrase "Made in China" is undergoing a transformation from its traditional associations with low quality to now encompassing advanced applications such as artificial ...
China operates the world's longest and most extensive high speed rail network, which spans 45,000 kilometers. [44] China is the world's largest manufacturing industrial economy and exporter of goods. China is widely regarded as the "powerhouse of manufacturing", "the factory of the world" and the world's "manufacturing superpower". [45]
In December 2019, the South China Morning Post reported that, due to the trade war and the Chinese government's crackdown on shadow banking, Chinese manufacturing investments were expanding at the lowest rate since records began. [259] Economic growth rate for 2019 was 6.1%, the slowest since 1990. [255]
On Monday, China's 24-member Politburo released a statement, declaring the government will have a more forceful fiscal response to the country's economic woes, and that the central bank will use a ...
China faces a problem with air quality as a consequence of industrialization. China ranks as the second largest consumer of oil in the world, and "China is the world's top coal producer, consumer, and importer, and accounts for almost half of global coal consumption.”, [55] as such their CO 2 emissions reflect the usage and production of ...
A closely watched measure of Chinese manufacturing activity remained negative in July as concern persists about the state of the world's second largest economy. The Purchasing Managers' Index ...