GDP| Global Development Perspective
Policy Brief No. 19.001
Feb.1, 2019
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Supply-side reform leads to economic resilience
QiyuanXu
China's GDP grew 6.6 percent in 2018, according to National Bureau ofStatistics data. Despite the slight slowdown in the GDP growth rate, however,exports grew at a relatively high 9.9 percent year-on-year calculated in USdollars. And, not surprisingly, China's trade surplus with the United Statesexpanded further.
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Besides, the relative prosperity index of small and medium-sized enterpriseshas dropped to the second-lowest point in a decade, and the financial costdifferentiation among various industries is growing. This may have a negativeimpact on not only short-term macroeconomic stability, but also thedevelopment space of relevant emerging industries and long-term growthmomentum.
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