China rejects Western assertion on economic slowdown risks

ISTANBUL

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.