China’s Worsening Economic Slowdown Is Rippling Across the Globe
- Asian economies are taking biggest hit to trade so far
- Falling prices in China may help to curb global inflation
China’s momentum is fading after decades of supercharged growth. Bloomberg looks at why China’s slowdown could send ripples around the world.
Source: BloombergThis article is for subscribers only.
China’s economy was meant to drive a third of global economic growth this year, so its dramatic slowdown in recent months is sounding alarm bells across the world.
Policymakers are bracing for a hit to their economies as China’s imports of everything from construction materials to electronics slide. Caterpillar Inc. says Chinese demand for machines used on building sites is worse than previously thought. U.S. President Joe Biden called the economic problems a “ticking time bomb.”