10 things you need to know today: January 19, 2016

China's economic growth slows, Iran nearly blocked prisoner swap, and more

Shanghai.
(Image credit: Getty Images)

1. China's economy grows at slowest rate in 25 years

China reported Tuesday that in 2015 its economy grew at its slowest pace in 25 years. China's economy expanded by 6.9 percent in 2015, down from a rate of 7.3 percent in 2014. China is a major driver of the world economy, and its slowdown has raised fears of a global downturn. The International Monetary Fund on Tuesday cut its forecast for global growth and projected that China's growth would slow to 6.3 percent in 2016. Still, investors appeared relieved that the figures were close to forecasts, and that China was expected to add more economic stimulus money. China's benchmark Shanghai Composite Index gained 3.25 percent by the close of trading.

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.