The Adverse Impact of China’s Economic Slump
Monday, August 21, 2023
Many countries depend on the health and growth of the Chinese economy. The global economy needs it as a locomotive.
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THE market’s fears have become reality. Two months ago, when China was just on the brink of deflation, many analysts were worried that China’s economy would soon fall into a downturn. This has now been clearly demonstrated by the latest data at the end of July. There was 0.3 percent deflation over the past year. A deflation is the first signal of an economic contraction. Instead of growing, the economy is shrinking.
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