China’s GDP Sees Rapid Decline

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BEIJING, CHINA (GaeaTimes.com)- The fall in China’s GDP or gross domestic product as reported by the National Bureau of Statistics in the second quarter of this year may be overstated say research analysts and economists around the world. According to the reports submitted by the National Bureau of Statistics in the month of June, China’s economy rate showed a rapid decline and slowed down by almost 10.3%, something which was not expected considering the improvements that the country had been scripting over the past couple of years.

Reports from Beijing show that with the fall in China’s GDP, the government officials are keen to increase their investments in the public housing sector and decrease the amount earlier invested in infrastructure, as they feel that this is what will ensure an all-round development for the Chinese economy. The positive note is that despite the rapid decline witnessed in the country over the past couple of quarters, China feels that it will come back with a bang and will again be a leading member in world economy because the policies adopted by its policy makers will help to ensure the growth of China’s GDP.

Many economic analysts in the country are of the opinion that a decline in China’s GDP was expected to come sooner or later. Now when it has hit the Chinese, it has led to lesser expenditure on the part of the public. The government however is of the opinion that lesser expenditure also means lesser waste of money on the part of the residents of China. There is also no reason to worry as there has been a notable increase in investments in private facilities.