According to National Bank of Canada’s analysts, Krishen Rangasamy, the share of goods exports to the U.S. in China’s GDP is now at the lowest level in 20 years. Key Quotes: “China’s real GDP growth remained strong in the second quarter (6.7% on a year-on-year basis) and is well on track to hit the government’s annual growth target of 6.5%. More importantly, Beijing is succeeding in rebalancing its economy away from trade, with consumption and government spending accounting for almost 80% of Q2 growth. With growth tilting towards domestic demand, China’s vulnerability to a potential trade war is arguably diminishing.” “Goods exports to the U.S. still account for a significant 19% of China’s overall merchandise exports.” “Given that domestic demand is growing faster than exports, goods exports to the U.S. now account for just 3.3% of China’s GDP, the lowest in at least 20 years.” “With growth tilting towards domestic demand, China is becoming less and less dependent on trade”. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Gold Technical Analysis: Gold bears looking at the 2018 low FX Street 5 years According to National Bank of Canada's analysts, Krishen Rangasamy, the share of goods exports to the U.S. in China's GDP is now at the lowest level in 20 years. Key Quotes: "China's real GDP growth remained strong in the second quarter (6.7% on a year-on-year basis) and is well on track to hit the government's annual growth target of 6.5%. More importantly, Beijing is succeeding in rebalancing its economy away from trade, with consumption and government spending accounting for almost 80% of Q2 growth. With growth tilting towards domestic demand, China's vulnerability to a potential trade war is arguably… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
