Evil Winter is Right Here
Tuesday, October 23, 2018
The world economy keeps on shaking. Even the mighty Chinese economy has taken a hit. Last Thursday, the renminbi fell, almost touched the psychological barrier of 7 yuan per US dollar. China’s economic growth as of Q3 2018 was only 6.5 percent annually, the lowest since the global crisis of 2008-2009.
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According to the China’s National Bureau of Statistics, the Chinese economy’s weakening is the effect of complex external factors and daunting task of reform and development at home. This is a bleak news. If China’s economy slumps, the consequences are huge for commodity-exporting countries such as Indonesia.
Those complex external factors are not only bearing down on China, but also virtually the entire emerging market. The Fe
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