Bloomberg: Recession starts in the Chinese economy

The Chinese economy has entered a recession.

Report informs, citing Bloomberg, that according to China Beige Book International, the country’s economy shrank 6.8% in the second quarter, which means a sign of recession.

The main obstacle in the recovery of the Chinese economy is a sharp decline in demand in the global market.

At the same time, the profit, capital expenditures, retail sales of the industrial companies grew slightly.