Britain's economy is expected to grow by only one percent in 2025, half of the previous forecast of 2 percent, said the country's finance minister on Wednesday.
Britain's public finance watchdog, the Office for Budget Responsibility (OBR), has revised down its 2025 growth forecasts in the latest publication, confirmed British Chancellor of the Exchequer Rachel Reeves in her Spring Statement in the House of Commons.
Around one-third of the lower growth this year reflects what appears to be structural weakness, and this is concentrated in productivity, said the OBR, adding that the remaining two-thirds is due to what appear to be cyclical, temporary factors including higher interest rate expectations, increases in gas prices and elevated uncertainty.
Highlighting the current significant uncertainty, the OBR said that if global trade disputes escalate to include 20 percentage point rises in tariffs between the USA and the rest of the world, this could reduce UK GDP by a peak of 1 percent.
Britain's annual CPI inflation is also projected to increase from 2.5 percent in 2024 to 3.2 percent in 2025, 0.6 percentage points higher than the October forecast, said the independent watchdog.
British 2025 GDP growth forecast cut in half to 1 pct
China's domestically developed T1200-grade ultra-high-strength carbon fiber holds broad application prospects in strategic emerging industries, according to its developer.
The country on Wednesday unveiled SYT80, a domestically developed T1200-grade ultra-high-strength carbon fiber, marking a major breakthrough in the China's high-performance carbon fiber technology.
This new material has achieved a hundred-tonne-level annual production capacity, making China the first nation to mass-produce this caliber of fiber, according to its developer, China National Building Material Group Co., Ltd. (CNBM).
Featuring lightweight and high-strength properties, the fiber's diameter is less than one-tenth that of a human hair, and yet its tensile strength is 10 times that of ordinary steel and its density is only one-quarter of steel's.
"Compared with the previous-generation T1100, T1200 has seen its tensile strength increase by more than 14 percent. With its ultimate lightweight and high-strength characteristics, T1200 can achieve weight reduction of over 10 percent for equipment in related fields. It holds broad application prospects in strategic emerging industries such as commercial aerospace, low-altitude economy, and humanoid robots," said Chen Qiufei, head of T1200 ultra-high-strength carbon fiber research and development at Zhongfu Shenying Carbon Fiber Company, a subsidiary of China National Building Material Group.
The new material also possesses many other outstanding properties.
As the fiber undergoes carbonization at nearly 2,000 degrees Celsius during production, its chemical properties remain stable and its corrosion resistance is excellent.
This fiber material also features strong fire and flame retardant properties, offering good safety performance.
The development of this fiber material demonstrates China's fully independent and controllable capabilities across the entire industrial chain of high-performance carbon fiber, spanning technologies and equipment as well as the transition from laboratory research to mass production, said Zhou Yuxian, chairman of CNBM.
China's high-strength carbon fiber shows strong potential in strategic emerging industries
