China's economy slows

(Vatican Radio) China's economic growth slowed to a six-year low in the latest quarter as trade and consumer spending weakened, deepening a downturn that has fueled anxiety abroad over its impact on an uncertain global outlook.

The world's second-largest economy grew by 6.8 percent in the October-December quarter, down from the previous quarter's 6.9 percent, data showed Tuesday. That dragged full-year growth to a 25-year low of 6.9 percent.

Growth has fallen steadily over the past five years as the ruling Communist Party tries to steer away from a worn-out model based on investment and trade toward self-sustaining growth driven by domestic consumption and services. But the unexpectedly sharp decline over the past two years prompted fears of a politically dangerous spike in job losses. In 2014, growth was 7.3 percent.

The Chinese slowdown and a plunge in Shanghai stock prices have prompted concern about loss of support from an economy once seen as an engine of global growth. That has depressed international financial markets even as the United States and Europe show signs of improvement.

Also on Tuesday, the ruling Communist Party's anti-graft watchdog said Chinese authorities will prosecute two former senior officials, including a one-time vice mayor of Shanghai, for corruption, after probes found they abused their power and took bribes,

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