Trend Factors: Gdp Growth and Reform Measures

trend factors: Among the major trend factors, the institutional factor has bottomed out, according to Global Times China. Its reform measures have promoted the improvement of the Total Factor Productivity TFP although it's still not strong enough to reverse the overall economic slowdown trend. Despite some of the causes that still exist in 2020, the economic outlook is not necessarily pessimistic as some cyclical factors will reverse and good results of reform will continue to show up. From 2017 to 2018, TFP growth has picked up and made a bigger contribution to overall economic growth. Goods and services trade's contribution to China's GDP growth had shrunk from the peak of 8.6 percent in 2007 to 0.8 percent in 2018. The China-US trade war has caused severe impacts on economic globalization, but even before the trade war, the globalization has encountered difficulties. (news.financializer.com). As reported in the news.