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The Chinese economy increased by 5.4% in the first quarter of this year while producers downloaded exports to beat higher prices imposed by US President Donald Trump, official data said.
GDP figures have been the first in China since Trump triggered his trade warWho threatens to drive a complete decoupling between the two largest economies in the world at a time when Chinese households are already having trouble recovering from a slowdown in deep property.
Growth was in accordance with the China growth rate in the fourth quarter and has exceeded the annual growth of Beijing Target for 2025 and forecasts of 5.1% by analysts of a Reuters survey.
Beijing set an objective of 5% for this year and supported this with promises of promises to increase the recovery measures, setting a record objective of the budget deficit for the central government.
But private sector economists restore their economic growth forecasts in the wake of Trump’s trade war, Morgan Stanley reducing its estimate of China’s GDP growth by 4.5% to 4.2% for this year.
The American president imposed additional prices totaling 145% on Chinese products, although he granted what he said temporary exemptions For certain goods such as smartphones and electronics.
UBS estimated that a little less than 60% of American imports from China were subject to the maximum rate of 145%, the rest of the rates facing 20 to 45% of last week.
China has replied with reprisal prices 125%, preparing the field for a hard decoupling between the two largest economies in the world.
