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Marketplace All-in-One

China’s economic growth slows

Marketplace All-in-One

Marketplace

News, Business

4.51.4K Ratings

🗓️ 18 October 2024

⏱️ 8 minutes

🧾️ Download transcript

Summary

From the BBC World Service: China’s GDP grew in the third quarter at the slowest pace since early last year. Then, in Japan, the anime industry has hit a milestone: its value has topped $2 billion thanks to hit movies and the growth of streaming services. And the European Union is looking at “right to switch off” rules for employees, a legal right to ignore business emails and calls outside of working hours.

Transcript

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0:00.0

What more can Beijing do to tackle China's economic slowdown live from the UK?

0:06.4

This is the Marketplace Morning Report from the BBC World Service.

0:09.6

Hello, I'm Stuart Clarkson in Fort Leanna Byrne today.

0:13.3

China's latest GDP figures show its economy performing below the government target of 5% growth

0:18.8

for the year.

0:20.2

In the three months to the end of September, GDP hit 4.6% that's the slowest growth rate since early

0:26.7

2023.

0:27.7

The BBC's Katie Silver is across this for us.

0:30.4

Hi Katie.

0:31.4

Hi there.

0:32.4

So why the slowdown? Well it was what many had

0:35.0

predicted. I guess the economy in China is facing some fundamental issues. The

0:40.0

biggest of which right now is a lack of consumer sentiment.

0:43.0

So people just aren't going out and spending money.

0:45.2

And so that's why we're seeing that slowdown slightly less than the quarter prior,

0:49.1

that 4.6% on year.

0:51.4

So that does suggest a deceleration.

0:53.0

It must be said it was slightly more than many economists predicted.

0:55.8

And we've been here in our marketplace over the last few weeks of all the measures

0:58.4

Beijing's introduced trying to support growth, but I guess the impact of that isn't reflected in these figures.

1:04.0

That's right. So of course many of these measures were made this month and this all covers times

1:09.5

prior to that. Without it out, there's that lag effect as well.

...

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