Fierce trade war with the US and a weak domestic demand pulled back Chinese GDP to mark its lowest in 29 years. For the year 2019, China recorded a GDP of 6.1 percent while GDP was 6.6 percent in 2018. The National Bureau of statistics acknowledged this to be China’s worst performance since 1990.
According to Moody’s investor survey, the intensity of a downward pull in the global market is relaxed with the first phase of US-China trade agreement. Han Anderson, working as market analysts and strategists at JP Morgan said, “The global market is on high alert on the current status of US-China trade ties. The stock indices will be very much sensitive on how the next phase of US-China trade relations develop.”
White house on the development of Chinese trade ties said the main objective of the US is to elevate the baseline margin of US agricultural products, and services and goods export to China to $200 billion. The baseline of 2017 for US export to China was $186 billion.
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