Since 1978, China's economy has doubled every eight years. Today, the average Chinese person has some ten times the purchasing power they had just a quarter century ago.
China was the engine room powering the Global boom of the early 21st century, however there are signs now that the Dragon is catching its breath.
October shipments from China rose 15.9% from a year earlier, down from a 17.9% growth in September and 24.5% in August.
Meanwhile, imports grew 28.7%, resulting in a trade surplus of $17bn (£10.7bn)
The data underscores growing concerns about the impact of a global slowdown on China's export-led growth.
European markets are crucially important to China but with European economies in a fragile state the implication for Export growth is obvious and the potential for the euro debt crisis to spread would result in a further decline in export growth in the months ahead.
No comments:
Post a Comment