Read the comprehension given below and answer the questions that follow.

China's economic growth has slumped to its lowest level in nearly three decades, but the trade war with the United States isn't solely to blame.  

Gross domestic product growth dropped to 6.2% in the second quarter, the weakest since the government started publishing quarterly figures in 1992, the national statistics authority said this week. Soon after the figures were published, President Donald Trump tweeted this:

"The United States Tariffs are having a major effect on companies wanting to leave China for non-tariffed countries. Thousands of companies are leaving. This is why China wants to make a deal with the U.S. and wishes it had not broken the original deal in the first place." 

Despite a truce agreed between Trump and Chinese President Xi Jinping last month, US tariffs on $250 billion worth of Chinese goods remain in place and have already hit China's manufacturing and agricultural sectors. Some American companies are also switching to suppliers in other Asian countries like Vietnam, Taiwan, South Korea, and Bangladesh. But analysts argue that the yearlong trade war is not the biggest drag on the world's second-largest economy. The slowdown has as much to do with a debt mountain and cautious consumers. 

China has been struggling for years to rein in high levels of debt, arising from a massive stimulus package launched during the 2008 financial crisis. While the stimulus boosted economic growth, it resulted in a $40 trillion mountain of government, corporate and household debt worth more than 300% of China's GDP as of March 2019, according to a report from the Washington-based Institute of International Finance this week

China's overall debt now accounts for about 15% of the global total, the IIF added. The Chinese government has reacted by tightening regulations in the financial system, scaling back bank lending, and clamping down on unregulated lending, also known as shadow banking. But these efforts to reduce China's reliance on debt-fueled growth have also made it more difficult for companies to obtain financing, especially private sector firms that usually find it harder to raise funds from banks than larger but less efficient state-run firms.