China’s economic growth has made some headlines recently. According to the Huffington Post, “The world’s second-largest economy grew 7.4 percent from a year earlier in the January-March quarter, down from the previous quarter’s 7.7 percent, government data showed Wednesday. It matched a mini-slump in late 2012 for the weakest growth since the 2008-09 global crisis.”
Whether this news is a good or bad thing depends on whom you ask. Whether this is good or bad news for China may also depend on whom you ask… or rather, what you read.
BBC’s headliner gives the impression that this growth is a positive one, saying, “China’s economy grows 7.4% in 2014 Q1, better than forecast.” While the Wall Street Journal paints a different picture with a headline that reads “China’s Growth Struggles.”
They give different opinions from different “experts.” Wall Street Journal remarks, “Some analysts worry the country is vulnerable to a property market collapse and explosion of bad bank loans.” While BBC notes “A sluggish start for the year is not uncommon, due to the Lunar New Year holiday when many businesses and factories shut down operations for about two weeks.”
But once you get down to the nitty gritty, both articles give much of the same information and express positives and negatives about China’s economy.
China Daily seemed to have a strong mix of both positive and negative points to make about the drop, and the story seemed balanced and fair. The story also mentioned “this is evidence that the economy is increasingly moving away from traditional reliance on investment and exports.”