India s finance secretary, T.V. Somanathan, has said that the slowing Chinese economy is unlikely to have much of an impact on India s economy, and the government will continue with its capital expenditure push. The Chinese economy is suffering after retail sales, industrial output and investment data came in much lower than expected. Five major brokerages have now cut China s growth forecast for this year.
The prospect of slower global price pressures may be one of the few upsides of Chinas descent into deflation as the economy struggles to regain its footing after a post-Covid bounce faded. Inflation is likely to remain muted as a property slump and troubles in the shadow banking industry curb spending and investments by both consumers and companies.
International Business News: China's exports and imports have declined in July due to a sluggish economy and weakened demands amidst the pandemic. According to customs data, China
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