Janet Yellen: China’s Slower Economic Growth Will Also Hit US

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Slower economic growth in China will also affect the United States economy. That is what US Treasury Secretary Janet Yellen said. According to her, neighbouring countries of China will be most affected by the ailing recovery of the Chinese economy.

 

Still, the consequences will also be somewhat felt in the US. She calls the disappointing economic data in China a “risk factor” for the US economy.

Yellen made statements about the Chinese economy on Monday after she gave a speech in Las Vegas in which she mainly discussed the economic policy of the US government. Concerns about China did not detract from the minister’s optimism about the US economy. During the speech, Yellen praised “healthy economic growth, a strong job market and declining inflation” in the US.

China is struggling with, among other things, a crisis in the real estate market and weakening consumer spending. Recent macroeconomic figures suggest that it will be difficult for China to meet its growth target of 5 percent this year.

To stimulate the recovery, the Chinese central bank has cut interest rates for the second time in three months. With support measures, the Chinese authorities also encourage the population to spend more on vehicles, tourism and household appliances.

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