Revelation 6:5,6 NCV When the Lamb opened the third seal, I heard the third living creature say, "Come!" I looked, and there before me was a black horse, and its rider held a pair of scales in his hand. Then I heard something that sounded like a voice coming from the middle of the four living creatures. The voice said, "A quart of wheat for a day's pay, and three quarts of barley for a day's pay, and do not damage the olive oil and wine!"
Policymakers are feeling the pressure to make new support measures as China’s economic growth in the third quarter fell to 6.8%, the weakest it’s been since 2009.
Chinese leaders are scrambling to reassure global markets that Beijing has the capability to manage the world’s second-largest economy even after suffering from the devaluation of the yuan and a stock market plunge that took place over the summer.
According to Reuters poll of 50 economists, China’s growth in the third quarter last year also saw a drop to 6.8%. The lowest expansion seen was in 2009, when China saw it fall to 6.2%
Some investors fear that growth levels could already be weaker than the official data suggests, creating skepticism about the reliability of Chinese official data.
“We expect the government to maintain loose monetary policy and step up fiscal spending in response to the economic slowdown,” economists at China International Capital Corp (CICC), a domestic investment bank, said in a note.
“We believe that loosening measures may help cushion the slowing momentum in economic growth but it’s difficult to reverse the long-term downward trend.”
Beijing is still in line with its full target for the year as the first two quarters saw economic growth of 7.0%, despite property downturn, industrial overcapacity, and weak exports and imports. Currently, the government claims that the reports have not been inflated to meet official forecasts.
