Oct 19, 2018

Chinese economy sees slowest growth since 2009

Photo: Yu Hongchun/VCG via Getty Images

China's economic growth dropped to 6.5% in the third quarter, the Wall Street Journal reports — the weakest it's been since the financial crisis.

The big picture: The economy overall is on track to still meet its growth target of 6.5%, the Journal reports, though the drop in numbers could hurt China's ability to negotiate with the U.S. amid the brewing trade war.

The details: The drop was due to growth "in industrial output and consumption," the Journal writes. Chinese financial officials released statements Friday seeking to ease investors' concerns, with People’s Bank of China Gov. Yi Gang saying the recent “abnormal fluctuations” in the Chinese stock market don’t reflect the country’s “stable financial system.”

What's next: If growth continues to slow, China is "ready to roll out more pro-growth measures," the WSJ reports, doing things like giving banks more money to provide loans and increasing government spending.

Go deeper: The threats posed by a U.S.-China rivalry

Go deeper

In photos: Protests over George Floyd's death grip Minneapolis

The Third Police Precinct burns in Minneapolis on Thursday night. Photo: Stephen Maturen/Getty Images

Demonstrators demanding justice burned a Minneapolis police station and took control of the streets around it last night, heaving wood onto the flames, kicking down poles with surveillance cameras and torching surrounding stores.

What's happening: The crowd was protesting the death of George Floyd, an unarmed black man whose life was snuffed out Tuesday by a white Minneapolis police officer who kneeled on his neck for about eight minutes.

Minneapolis mayor to Trump: “Weakness is pointing your finger” during a crisis

Minneapolis Mayor Jacob Frey fired back at President Trump on Friday, after the president accused the mayor of weak leadership amid violence sparked by the killing of an unarmed black man by a white police officer.

Driving the news: Trump made his accusations in a pair of tweets early Friday, saying he would bring the national guard into Minneapolis if Frey couldn't “bring the City under control.” 

Updated 1 hour ago - Politics & Policy

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