China's economy grows at a slower pace
The days of double digit growth are over.
Debts accumulated by construction companies, like Evergrande, are undermining the economy and the days of China enjoying expansion of double digits are expected to be over. Plus we look ahead to the World Economic Forum, which will open with an address from Chinese President Xi Jinping. Also we have an extended analysis of Turkey's economy, which is under pressure because of surging inflation. This week the central bank will consider if it should increase interest rates, but that has repeatedly been prevented by the Turkish President, Tayyip Erdogan, who has even removed staff at the central bank, to stop rates rising.
(Picture: A container port in Yantai in Shandong province, China. TANG KE/Future Publishing/Getty Images.)
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- Mon 17 Jan 2022 01:06GMTΒι¶ΉΤΌΕΔ World Service