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LGT Navigator: China lowers growth forecast

March 5, 2019

In Asia, the stock markets followed Wall Street's negative lead after China lowered its growth forecast (new: 6.0-6.5%, previously around 6.5%) and announced a 3% cut in VAT to support the economy. Hopes of an early resolution to the US-Chinese trade conflict, which had previously been optimistic, receded into the background. However, both sides talked of "substantial progress", and a high-level meeting seems within reach.

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