China power crisis: The power crisis was heavy on China, the pace of the economy became sluggish
China's National Bureau of Statistics Monday released GDP figures for the third quarter of July to September. The factories have suffered a lot due to power shortages and supply bottlenecks.
Sunil Shukla 
The power crisis in China and the slowdown in real estate have been heavy for China. In the quarter ended September 2021, China's GDP growth rate has come down to 4.9%.
China's National Bureau of Statistics released data for the third quarter of July to September on Monday. In China, January is considered to be the beginning of the financial year, so this is the third quarter for it.
Why was there less growth?
According to news agency Reuters, factories have suffered a lot due to power shortages and supply disruptions. Consumption is similarly low due to the Kovid crisis.
There was a good growth of 7.9% in China's GDP in the April-June quarter this year. Before this, in the third quarter of last year also, GDP growth was 4.9 percent. But then the Corona crisis was dominating. In the first quarter of this year i.e. from January to March, there was a spectacular increase of 18.3% in China's GDP. This record increase was due to the base effect.
China in trouble
China had brought its economy back on track after Corona, but now the crisis is visible again. The economy has become sluggish due to the slowdown in the property sector, the production of factories stalled due to power shortage, etc.
Because of this, there is a possibility that the Chinese government will soon announce a relief package. China's giant real estate company Evergrande is on the verge of bankruptcy and it has affected the entire economy there.
