When China reports its third quarter economic data next week, it is widely expected to mark its seventh consecutive quarterly slowdown in growth.
China is still doing remarkably well by global standards: the economy probably expanded about 7.0-7.5 per cent year-on-year in the third quarter. But relative to the country’s recent past, the grinding slowdown has been a significant change that many companies and investors are struggling to digest.
“If you compare it to China’s growth rate before 2008, you’ve come down by about a third,” says Huang Haizhou, chief strategist with China International Capital Corp.
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