The Consequences Of A Slowing Chinese Economy -- Anthony Fensom, The DiplomatIt’s the 1 trillion yuan question: has China’s economic bubble finally burst?
It’s an unnerving issue for the global economy, particularly at a time when the presumed leader in waiting, Xi Jinping, has apparently gone “missing in action” just a month ahead of the once-in-a-decade leadership transition at the 18th Party Congress.
After clocking up an average 10 percent annual growth rate for 30 years, this year’s forecast for the Chinese economy is 7.5 percent, its lowest expansion since 1990. In August, industrial output growth dropped to its lowest level since May 2009, imports dipped 2.6 percent and steel output is expected to contract this year for the first time in three decades.
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My Comment: In short .... a Chinese economic slowdown will mean that a global recession has started.
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