The head of Australia’s central bank said this about China.
“The most striking real economic fact of the past several months is not continued U.S. economic weakness, but that China’s economy has slowed much more quickly than anyone had forecast.”
“There is every chance that the rate of growth of China’s (gross domestic product) is currently noticeably below the 8 per cent pace that is embodied in various forecasts for 2009.”
Australia does a ton of trade with China — providing raw materials and minerals — that it should be able to notice the change.
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