The global economy is slowing and the latest data released on Monday about China’s reduced growth will reverberate around the world. All the more so because Beijing’s response suggests its leaders are running out of ideas to stop the slide.
Chinese industrial production slows to 3.8% year-on-year growth from 3.9% in June. Services: Slowed, 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 going in the wrong direction. And they’re moving south faster than economists expected