Things aren’t looking great for China’s economy and it may only be getting worse

Elisabeth Buchwald
Things aren’t looking great for China’s economy and it may only be getting worse

If you thought China’s 6% growth rate for this year’s third quarter — which indicates that the country is growing at its slowest pace in nearly 30 years — was bad, brace for worse. The International Monetary Fund predicts that the Chinese gross domestic product will grow at a rate of 5.8% in 2020, according to its World Economic Outlook published over the weekend. Six months ago, the IMF had forecast a growth rate of 6.1%.