The detrimental, global impact of China’s slowdown
Over the past decade, China’s annual GDP
growth has averaged at just under 10pc, but recent figures show that this trend
has been broken. In the last quarter, China’s reported growth has been 7pc and Western
Economists suspect that growth has been much lower and set to decrease further.
China’s demand for commodities has decreased as she shifts her economy to
consumption, away from investment, thus depressing global prices. Earlier this year,
the Yuan devalued, resulting in further decrease in global demand and so repercussions
in the global economy.
