As the situation of the world has changed by the masses in the past year, there has been a major shift in the growth of major nations like the United States, China, India, and some more. China was the nation that had not seen growth slowdown in a very long time, but this has been changed, and all the credit goes to the United States president who has devasted the world by his stupid trade war that he initiated with China 17 months ago.
China had some pretty amazing export and manufacturing sectors before the tarde war started, and it was a global leader in exports and manufacturing, and this has changed and taken a major hit in the recent times as trade war has been urging these sectors and now these sectors are struggling. The nation was once known for the booming lending sector that it once had, and now the situation has turned in such a drastic way that the government has ordered the sector to close down its operations and wrap up in two years. The leading peer to peer lending firms is ordered to become small loan providers in two years; this is an effort to change the situation of the nation’s economic growth, which has been taking major hits.
So with this new move, we think China is trying to provide more loans and encourage people to grow the economy with the help of spending and investment in various sectors. So let’s see how this pans out.
Tags : Lending, china, India,