China

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Index China Main Page War Losses Cause China to Sign Away Sovereignty People's Republic of China Is Established China Is Condemned for Poor Treatment of Tibetans President Nixon's Visit to China Establishes New Relations Student Demonstrators Are Killed at Tiananmen Square China Becomes an Economic Power, but Continues to Suppress Personal Liberties Natural Disasters Ravage China China Hosts a Successful Olympics Space Exploration, Government Reforms, and Military Crackdowns Leaders Propose Strict Limits on Media China Sides with Russia to Block U.N. Action in Syria Blind Dissident Seeks Refuge at American Embassy Tension Increases with Asian Neighbors Over Islands in 2012 China's Economy Falls to a Three-Year Low in 2012 The Transfer of Power Begins Protests over Newspaper Censorship Grows Chinese Hackers Attack The New York Times The Transfer of Power is Complete Powerful Earthquake Kills 186 in Sichuan Province

China's Economy Falls to a Three-Year Low in 2012

In a June 2012 quarter ending report, China's economic growth fell to a three-year low. Economists predicted that it would decline even more before rebounding. However, by September 2012, consumer inflation had eased to 1.9 percent from 2.0 percent in August. The drop in inflation gave the government room to cut interest rates and was a positive sign that China's economy would soon be on the upswing again.

Also, while China's growth slowed in 2012, it was still the leader of all the major emerging economies. China's GDP growth was 7.6 percent in the year's second quarter, ahead of India (5.5 percent), Russia (4 percent), and South Africa (3.2 percent). Moreover, while there was a slowdown in China's production and consumption of consumer goods, basic resources, and materials; the country's tourism, education, medical care, and luxury car industries thrived throughout 2012.

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