China’s Premier Li calls for stabilising external demand
China's Premier Li Qiang called for stabilising external demand and expanding international trade cooperation.
Reported by 2 outlets — Investing.com · Economy. See all sources ↓
BEIJING, Aug 17 (Reuters) - China’s Premier Li Qiang on Monday called for efforts to stabilise external demand and expand international trade cooperation, as weak domestic demand weighs on growth and external risks loom. "Currently, the problem of insufficient domestic demand remains prominent, some industries and enterprises are facing increasing difficulties, and uncertainties in external environment are rising," Li said at a meeting of the state council, China’s cabinet, according to state media Xinhua. The world’s second-largest economy has been relying on exports to power growth and offset weakness in domestic demand, as a prolonged property crisis constrains investment and household spending. Yet the reliance leaves it vulnerable as frictions with trading partners and the Middle East war could hit global demand for Chinese goods.
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Why it matters
China's Premier Li Qiang made a speech on Monday. He said China needs to help its economy by increasing international trade. China has a problem with not enough demand from its people.
- What's the story?
- China's Premier Li Qiang called for stabilising external demand and expanding international trade cooperation.
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- 2 outlets, average source rating 6.0/10.
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China’s premier calls for stabilising external demand as growth sputters
Sources1TypeCoverageInvesting.com · Economy