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France, Spain log solid growth in second quarter [Video]

The French economy grew faster than expected in the second quarter, official data showed Tuesday, giving a boost to the eurozone.

The French government, battling with deepening deficits and a growing debt mountain, has been hoping that stronger growth will make the task of balancing the books easier.

The French economy — the eurozone’s second biggest after Germany — expanded by 0.3 percent in the second quarter, outperforming the INSEE statistics institute’s earlier estimate of 0.1 percent.

Finance Minister Bruno Le Maire welcomed what he said was the French economy’s “excellent performance”.

Growth figures for Germany and the wider eurozone are due to be released later Tuesday.

Spain, one of the region’s strongest performers, reported a 0.8-percent expansion, driven by exports and strong household spending. The central bank had forecast 0.6 percent growth.

France’s gross domestic product (GDP) was lifted by foreign trade and a recovery in corporate investment.

Exports rose by 0.6 percent, while imports were stable.

The …

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How China Is Rewiring Its Faltering Economy [Video]

Xi Jinping has a plan to fix his country’s faltering economy and offset the pain caused by the property crisis. The goal is to move up the value chain. Out with dirty, low-end manufacturing and in with new industries like solar and electric vehicles. The problem, however, is Chinese consumers aren’t spending. Also, Beijing faces a tense trade and geopolitical landscape with the US and Europe.00:00 Introduction 01:05 China’s growth story 01:54 Solar firm GCL 02:50 Hi-tech sectors04:05 Tariffs and weak consumption07:09 Model of success If you want to read more on China’s “great rewiring,” click here: https://trib.al/25srtVZFor more on Xi Jinping’s plans for the Chinese economy, click here: https://trib.al/4zPyDoh Sign up here for the Next China newsletter to get Bloomberg’s weekly dispatches from Beijing: https://trib.al/kX4Zyws--------Like this video? Subscribe: http://www.youtube.com/Bloomberg?sub_confirmation=1Get unlimited access to Bloomberg.com for $1.99/month for the first 3 months: https://www.bloomberg.com/subscriptions?in_source=YoutubeOriginalsBloomberg Originals offers bold takes for curious minds on today’s biggest topics. Hosted by experts covering stories you haven’t seen and viewpoints you haven’t heard, you’ll discover cinematic, data-led shows that investigate the intersection of business and culture. Exploring every angle of climate change, technology, finance, sports and beyond, Bloomberg Originals is business as you’ve never seen it. Subscribe for business news, but not as you've known it: exclusive interviews, fascinating profiles, data-driven analysis, and the latest in tech innovation from around the world.Visit our partner channel Bloomberg Quicktake for global news and insight in an instant.