Hong Kong (CNN Business)China’s economic slowdown is causing alarm around the world, but President Xi Jinping’s government may be willing to go only so far to limit the damage.
Beijing on Tuesday announced 1.3 trillion yuan ($193 billion) worth of new measures designed to stimulate the economy, including tax cuts for small businesses and reduced tariffs. It’s the latest in a flurry of government efforts to prop up growth in recent months, such as boosting infrastructure spending and looser monetary policy.
Weakening growth in the world’s second biggest economy combined with the trade war with the United States has spooked investors and prompted warnings from top companies like Apple (AAPL).
