China rejects Western assertion on economic slowdown risks

By Alperen Aktas

ISTANBUL (AA) - Rejecting recent claims by Western politicians and media about the potential risks of China's economic slowdown on global growth, Beijing on Wednesday said: “The fact says otherwise.”

Chinese Foreign Ministry’s spokesman Wang Wenbin said that China's economy is on a robust recovery path, maintaining its role as a crucial global growth engine.

“‘China’s economic slowdown is a risk to the global economy’ — this is a false narrative. The truth is, China’s economy continues to recover, showing a generally upward trajectory, and remains an important engine for world economic growth,” Wenbin said in Beijing, according to a transcript released by the Foreign Ministry.

He added that while certain Western sources have “exaggerated” China's post-COVID-19 economic difficulties, its economic resilience, potential, and dynamism stand strong, maintaining its trajectory for “sustainable growth.”

Wenbin noted that Beijing’s economy is expected to grow by 5.2%, according to IMF World Economic Outlook updated in July.

“China’s GDP grew by 5.5% year-on-year, visibly faster than the 3% growth rate last year, higher than the average annual growth rate of 4.5% over the three years under COVID-19 and three percentage points higher than the growth rate of the US economy,” he said.

The Chinese Ministry of Commerce has declared its intention to carry out a one-year review of the anti-dumping tariffs imposed on imported chlorobutyl rubber from the US, EU, UK, and Singapore, starting Aug. 20.