The Chinese government reported that its economy expanded by 6.8% in the fourth quarter of 2008. That may sound like a lot to us Americans but it is well below what everybody was expecting and a very clear sign that the global recession is hitting everyone very hard…including China.
Americans just aren’t buying as much ’stuff’ and since China makes most of the world’s ’stuff,’ they too are feeling the same slowdown we are.
Related Posts
- China export growth slows to 7% (07/10/08)
- Bernanke: “Asia appears to be leading the global economic recovery” (10/20/09)
- IMF cuts growth forecast for China (05/08/08)
- UN drops global growth forecast (05/20/08)
- China inflation slows (09/10/08)
