U.S. news media have been reporting for two years that the Chinese economy is slowing.
China's economy is slowing
In 2010 China’s economy grew at a robust 12%. In 2015 International Monetary Fund was projecting that Chinese growth would fall to 6.8% in 2015, and 6.3% in 2016. In fact, the Chinese economy actually grew 6.7% in 2016.
For the first quarter of 2017 China’s economy grew 6.9%; that is up from 6.8% in the last quarter of 2016. It is projected to grow 6.5% in 2017.
A 6.5% economic growth is nearly half China’s 12% growth in 2010. But 6.5% growth is still the envy of almost every other nation.
But not compared to all other economies
The International Monetary Fund recently predicted that the world economy will grow 3.5% this year. That is up from 3.1% in 2016. The IMF’s latest outlook for 2017 is a slight upgrade from the 3.4% global growth it had forecast at the start of the year.
The IMF expects the U.S. economy will grow 2.3%, up from 1.6% in 2016. The IMF’s prediction is that the 19-country eurozone will expand by 1.7%. That is the same as 2016. Japan is anticipated to grow 1.2%, up from 1% in 2016.