What 60% growth means for the Chinese economy

China’s GDP growth in the third quarter was 6.0%, lower than previously expected, causing widespread discussion at home and abroad. The downward pressure on China’s economy is continuing. The trade war and global economic weakness have caused negative external impact, which is unfavorable for China’s GDP to rise again.

However, it seems that there is no problem for China to achieve its economic growth target of 6.0% to 6.5% this year. In addition, 6.0% is still the highest among the world’s major economies. This is not self consolation, but a profound reality in the current global economic pattern.

When the global economy is facing a lack of growth, the strength of the economy is relative, and it depends on the content and quality of economic growth. China’s economic growth is a real process in which the country’s comprehensive strength and people’s living standards are advancing. China is continuing to develop and still has a lot of development potential to be released.

Are we the most powerful developing country among the big powers? Of course, it will be clear at a glance to see how much infrastructure construction China has completed in the past period, how much remarkable progress has been made in the field of people’s livelihood, and whether our science, technology and national defense capabilities have taken another step forward. China’s comprehensive progress is undoubtedly the most remarkable among the big countries.

In the past few years, China’s GDP growth rate has been declining bit by bit, but due to the continuous expansion of China’s economic plate, China’s annual real GDP growth has been rising.

If we take five years as a comparative period, is China’s comprehensive strength stronger than it was five years ago? Has the overall appearance of Chinese people’s clothing, food, housing and transportation changed? And has China’s social security system, education, medical care and pension system formed a new construction or improvement? Has China made progress in ecology and environmental protection? Do more people join the trend of modernization? Are all kinds of counterfeits more restrained? Has the frequency of production safety accidents been reduced, cities and towns become cleaner, and our life as a whole become more convenient and quality?

All of these are GDP, and compared with other big economies in any of these areas, China’s change rate in the past five years is almost the largest. China’s development is solid. In the past few years, while developing, we have combated corruption, adjusted our economic structure, and focused our comprehensive social development on the people’s needs for a better life. China’s development capacity and the ability to optimize development remain in a good state. Our country has not stagnated, and there is no sign that it is likely to stagnate.

All kinds of problems in China’s economy are staged and technical in general. For example, the trade war will affect the sales of some products. We need to adjust. Moreover, active structural adjustment will inevitably bring temporary and local pain, but the loss of GDP may not be conducive to the long-term economic development. Our greater advantage is actually endurance.

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