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Chinese Economy Does Not Need the Trade Deal With the US to Get Better

Earlier today, we wrote about how Trump was celebrating weak economic data from China, stating that it was on account of the trade war and tariff hikes. China’s Foreign Ministry has reacted to Trump’s tweet, remarking that it was misleading to link recent economic data to the trade deal under negotiation with the US.

While addressing a daily news briefing the ministry’s spokesman Geng Shuang stated that China’s economic performance was “not bad” and that China did not need a trade deal with the US just because its economy appeared to be slowing down.

On Monday, Trump had tweeted that his decision to impose tariffs on Chinese goods had had a major effect on China’s economic growth slowing down to its weakest pace in 27 years.

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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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