The global economy is slowing and the latest data released on Monday on China’s slowing growth will reverberate around the world. Especially since Beijing’s response suggests that its leaders are running out of ideas to stem the decline.
Chinese industrial production – slowed to 3.8% year-on-year growth from 3.9% in June. Services—slowdown to 0.6% growth from 1.3% a month ago. Retail sales — growth slowed to 2.7% from 3.1% in June. Investment in fixed assets, inflation, youth unemployment are all going in the wrong direction. And they’re moving south faster than economists predicted