Slowing growth in China a concern to global companies
The Chinese economy has been growing, quarter after quarter, year after year, for decades. But the super-fast growth — call it the teenager years — has passed. In the last quarter, China’s growth rate clocked in at 6.2%, as its slowest in nearly three decades.
With growth slowing, Chinese consumers are not necessarily buying the way they used to, and that’s not great news for the global economy. Take car sales in China, for example. They’ve been flat or negative for the past year. That’s a big worry for global automakers.
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