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China calculates 1st deficit estimates for 2016
(MENAFN) China anticipates the deficit this to touch USD336b this year, which translates to or 3 percent of the country's gross domestic product (GDP).
Accordingly, a 3-percent deficit ratio is normally considered a red line not to be crossed, but opinions favor a higher ratio as it enables the nation to cut taxes.
It's obvious that the slowdown that has been pressurizing its economy for quite a considerable time is starting to reveal its negative impacts in many segments.
On a different note, China is the largest trading power, with a total international trade value of USD3.87 trillion in 2015, hence it's far from giving up to recession.
Accordingly, a 3-percent deficit ratio is normally considered a red line not to be crossed, but opinions favor a higher ratio as it enables the nation to cut taxes.
It's obvious that the slowdown that has been pressurizing its economy for quite a considerable time is starting to reveal its negative impacts in many segments.
On a different note, China is the largest trading power, with a total international trade value of USD3.87 trillion in 2015, hence it's far from giving up to recession.
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