China: Will the economic slowdown impact global growth?
Displaying a GDP growth Of only 4.9% in the third quarter In contrast to 7.9% in the previous quarter, China, which has been pulling the world economy upwards for many years, worries the other countries of the world. The difficulties of the real estate sector with the risk of bankruptcy of the giant of the Evergrande sector, combined with the multiple electricity cuts (cf. China: Power cuts threaten the world's workshop) slow down the Chinese economy. Moreover, domestic demand remains weak and does not contribute to boost growth (cf. China economy: Domestic consumption brake).
By rationing electricity and using coal whose price is blazing, Chinese production costs are increasing and being passed on to the supply chains. The industrial activity of the advanced countries will be affected by these price increases as well as the world demand which is likely to weaken. Thus countries exporting to China such as Brazil, Germany or oil-producing countries fear the butterfly effect and expect a decline in their trade with Beijing.
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