{"id":4926,"date":"2022-03-10T09:14:25","date_gmt":"2022-03-10T14:14:25","guid":{"rendered":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/?p=4926"},"modified":"2022-03-10T09:14:25","modified_gmt":"2022-03-10T14:14:25","slug":"china-cuts-economic-growth-goal-as-it-tries-to-reverse-slump%ef%bf%bc","status":"publish","type":"post","link":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/2022\/03\/10\/china-cuts-economic-growth-goal-as-it-tries-to-reverse-slump%ef%bf%bc\/","title":{"rendered":"China cuts economic growth goal as it tries to reverse slump\ufffc"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/apnews.com\/article\/russia-ukraine-vladimir-putin-business-china-beijing-b0eacddcca1d4cc0bf0faef378092eed\">https:\/\/apnews.com\/article\/russia-ukraine-vladimir-putin-business-china-beijing-b0eacddcca1d4cc0bf0faef378092eed<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This article details a speech given by the second highest ranking government official in China, Li Keqiang. This was given almost like a Chinese version of the state of the union. During the speech, Li states that their goal is to cut economic growth to combat a \u201cslump\u201d that came as a direct result of Russia&#8217;s invasion of Ukraine. While during the speech it was not explicitly stated that this rise in price was due to the ongoing war in Ukraine it was apparent the cause of it. The reason that China refused to cite Russia as the source of this rise in prices is that they are quasi allies and China has remained neutral on Russia&#8217;s \u201cspecial military operation\u201d in Ukraine. Due to this China is attempting to spin this drop in economic growth as them pivoting towards a consumer spending market and not a trade focused one. This was after a record breaking plummet in their economy due to covid and the weaknesses of the system being highlighted. Contrary to the state of the union given by president Biden this speech focused almost entirely on domestic issues. One of those was the zero tolerance policy in regards to covid. Li stated that China will continue the zero tolerance policy for the foreseeable future, this policy effectively shuts down entire businesses if an individual is exposed. Also on the topic of covid was an announcement that China will be further researching vaccines for covid. At the end of his speech Li also says that China will be upping military spending by 7.1%, this comes after a 6.8% rise the previous year. While not officially stated this announcement did coincide with Biden&#8217;s invitation of eastern Asian countries to Washington for an ASEAN meeting suggesting that this would be China&#8217;s attempt at combating US influence by extending their military capabilities and influences.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>https:\/\/apnews.com\/article\/russia-ukraine-vladimir-putin-business-china-beijing-b0eacddcca1d4cc0bf0faef378092eed This article details a speech given by the second highest ranking government official in China, Li Keqiang. This was given almost like a Chinese version of the state of the union. During the speech, Li states that their goal is to cut economic growth to combat a \u201cslump\u201d that came as a direct result of Russia&#8217;s invasion of Ukraine&#8230;. <a href=\"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/2022\/03\/10\/china-cuts-economic-growth-goal-as-it-tries-to-reverse-slump%ef%bf%bc\/\">Read more &raquo;<\/a><\/p>\n","protected":false},"author":221,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4926","post","type-post","status-publish","format-standard","hentry","category-analysis"],"_links":{"self":[{"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/posts\/4926","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/users\/221"}],"replies":[{"embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/comments?post=4926"}],"version-history":[{"count":1,"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/posts\/4926\/revisions"}],"predecessor-version":[{"id":4927,"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/posts\/4926\/revisions\/4927"}],"wp:attachment":[{"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/media?parent=4926"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/categories?post=4926"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/tags?post=4926"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}