“There is no doubt that the Chinese economy is still slowing down, but it is as expected. Even growing 6, and 6 and a half percent, is a massive number,” CEO Jean-Sébastien Jacques told CNBC’s Eunice Yoon at the China Development Forum in Beijing on Saturday.
Compared with growth rate of Europe, the U.S. and Canada, China’s projected expansion of 6 to 6.5 percent is still a “big number,” Jacques said.
China is a large-scale buyer of mined commodities from Australia, where Rio Tinto — one of the world’s largest metals and mining companies — has major operations.
The U.S. Federal Reserve downgraded its economic outlook for 2019 last week, and now sees growth of just 2.1 percent for the United