“I sometimes stay up at night, worrying about what the future does hold,” Minnesota farmer Cindy VanDerPol says about the US-China trade war. She tears up while discussing her son, who she says always had a passion for farming but decided not to pursue it
Industrial production in China — an important indicator for the country's economy — grew just 4.8% in July compared to a year earlier, according to China's National Bureau of Statistics. That's the worst growth for that sector in 17 years.The metric is important because it measures the output of key businesses in China's manufacturing, mining and utilities sectors. The latest figure fell far short of the 5.8% that analysts polled by Reuters expected.
The jobless rate in urban areas increased to 5.3%, compared to 5.1% in June. "The magnitude of [China's] slowdown was rather surprisingly large," said Ken Cheung Kin Tai, chief foreign exchange strategist for Asia at Mizuho Bank in Hong Kong. This kind of slowing growth might give China"a greater incentive to make larger comprises" in any trade deal with the United States, he added in a research note.
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