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Wednesday, September 28, 2016

China debt could wreck the global economy: Leading economist warns country could suffer a calamitous slowdown

China poses the biggest threat to the global economy as its debts soar, according to a leading economist.

Ken Rogoff, the former chief economist at the International Monetary Fund, said the country could suffer a calamitous slowdown – dragging the rest of the world down with it.

A so-called 'hard landing' in the world's second biggest economy, where growth drops to dangerously low levels, would be a disaster for other countries including Britain.

China is the UK's sixth biggest export market with sales of goods made in British factories to the People's Republic jumping from £877million in 1998 to £15.5billion in 2014.

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1 comment:

Anonymous said...

The world needs a good bottoming out.The important thing is who will emerge after the collapse? We all know the answer to that question;we will of course.we always do.Trump will pull the disconnect plug on every nation that leeches off of the US.After that happens,whatever financial disaster the leeching countries experience will have little or no effect on us.The world policing issue goes much deeper than one would expect,because that includes bailing out every nation that grew too quickly or artificially.What part of we can no longer afford that doesn't Obama understand?