Via Bloomberg.
I came across an interesting article on Bloomberg which argued that while China's slowdown in growth shouldn't be over-hyped, it mustn't be ignored either. The article looks at the fact that China's GDP growth path has been falling. The article makes the point that 9.7% growth for 2018 sounds great which it does, but that is less than 10% growth for the 4th year out of 5. Look at the chart below to see the pattern of slowdown. (white line).
Similarly, the 5-year average (pink line) dropped to 8.6% from 13% in 2013 and 18% in 2018.
The article then goes on to say that China's present stimulus efforts may prop things up, but don't be unduly optimistic about a global rebound about to resume.
The author, Garfield Reynolds, makes an excellent point and puts China's slowdown into a decent perspective. So, avoid the hype, but look at the detail, as always really. Chart below for your persusal.
