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China’s 2019 Q1 Growth is Slightly More than Economists’ Forecasts

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HONG KONG – China’s economic growth in the first quarter has shown positive results due to high manufacturing production and larger spending by Chinese consumers. In the previous year, economists predicted the Chinese economy’s growth to stand at 6.3% but it has surpassed that mark and has come out to be 6.4%. China has been facing a slowdown in its economy because of the trade war with the US and the government’s efforts to rein a high amount of debt in China’s financial system. Though this growth rate is still the lowest, if we compare it with the past economic growth in a decade.

The improvement in China’s economic growth hints about the positive results in the near future. Property prices and bank lending are the prominent factors which have a significant role to play. Investors would keep an eye on the possibility of an agreement on the trade issues between the US and China. Earlier, due to the trade war between the US and China, the former had imposed new tariffs on approximately $250 billion of Chinese exports. This resulted in the slowdown in China’s economy. The second-largest economy of the world also witnessed a downfall in growth as the government put a check on risk lending which left many companies devoid of funds needed for expansion. However, due to a growth in the manufacturing sector in the country, China magnet manufacturing company, AO Magnet is expected to witness more growth in the near future.

The Chinese magnet manufacturer, aomagnet.com is expected to grow well in 2019 amidst slowdown as the government has hinted to take important measures to boost the country’s economy. Cutting of taxes on businesses, loosening of monetary policy and infrastructure investment would help businesses to witness a huge growth. With such efforts, the Chinese growth for 2019 would most likely surpass the targets set by the government.

Jenny is one of the oldest contributors of Bigtime Daily with a unique perspective of the world events. She aims to empower the readers with delivery of apt factual analysis of various news pieces from around the World.

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Russian Lawmakers Plan to Restrict the Email Access Using Telephone Verification

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Russian lawmakers have proposed to make it mandatory for internet users to verify their identity with phone numbers before gaining access to email. The State Duma has already made such a rule that put the same restrictions on the use of all instant messengers. The team of lawmakers led by senators Andrey Klishah and Alexander Bashkin, have also proposed to make it mandatory for email services to block messages containing any information that is banned in Russia. This action needs to take place within 24 hours from the time the state authorities notify of the issue.

The draft law’s explanatory note claims, “The adoption of this legislation will significantly reduce the number of false terrorist messages distributed through email services, create the legal conditions for bringing criminals to justice, and reduce the economic damage from such communications.”

The new email verification law will stop cyber crimes in the country and will provide hassle-free Internet service to Russians. Russia’s RuNet isolation law was also passed earlier this year. Senates Klisha and Bashkin were the co-authors of this law. The legislation is now allowing Russia’s federal authorities to command and take control over Russia’s Internet exchange points with the outside world. Russia can not create an infrastructure with the help of this theoretical law to make the country’s internet operate in isolation from the rest of the world. Russia government’s official censor, Roskomnadzor is authorized for running sustainable and safe internet services in the country.

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