Factories closed, customers disappearing…Historic recession in China! Worst period in 3 years, India also lags behind in GDP growth rate

• Historic recession in China!
• Worst period in 3 years
• India also lags behind in GDP growth rate

China, a country that always tops the list of developed countries. But in the present time, it is seen that a very bad situation has come over China. According to a recent report, India is leading in imports from China. This shows that Indian people like Chinese goods so much that China’s exports are increasing steadily. Despite this, China’s economy has slowed. Not only this, exports to India have declined. India has also overtaken China in the GDP growth race. What is the exact situation in China”text-align: justify;”> Dad! The world’s most expensive coffee is made from cat feces? Eyes will turn white after hearing the price

China’s momentum slowed

According to a recent report, China’s GDP growth rate is 4.3 percent. According to China’s GDP growth report released on Wednesday, the growth rate in the April-June quarter was even lower than in the January-March quarter. China’s GDP growth rate was 5 percent between January and March. For the first time in many years, China’s economy has slowed down so much that even economists did not expect.

India defeated China

India has significantly outpaced China in terms of economic development. According to recently released data, India’s GDP growth rate has been recorded at 7.8%, which may improve further in the future. Although India imports a large amount of goods from China, the rate of exports from India to China is very low.

Why is China’s GDP falling?

A few days ago, UBS China Chief Economist Yu Song spoke to CNBC, during which he expressed concern about China’s GDP. He cited three main reasons for this GDP decline. According to him, the rise of AI has nothing to do with it, rather it benefits China.
Yu Song cited the real estate crisis as a major reason. China’s property market has been in decline for a long time. People here are focusing more on saving than buying property.

Another reason is China’s reluctance to spend. The US-Iran conflict has driven up fuel prices in China, causing people to shun expensive branded goods and look for cheaper alternatives. One reason for China’s economic decline is the decline in employment. AI is also a factor, and although it benefits China, it has significantly reduced the number of workers.

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