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China’s economic slowdown in 2015 will have important consequences for countries in the region and beyond. After three decades of double-digit growth, however, the weakening performance of the world’s second-largest economy is a significant source of concern—and not just for the Chinese.
About Chinese crisis:
Impact on World Economy:
Impact on India:
Gain for India:
As China’s slowdown is being driven largely by fundamental factors (especially a shrinking labour force and rising labour costs), it should be understood as part of a new normal for the world economy. Because the Chinese economy is so much larger now, even 6% growth today would contribute more to world output than 10% growth before the global financial crisis.For other countries, the best way to cope with a slowing China is to embrace the domestic reforms needed to reposition themselves within the global economy.
Dilaing……mains(General Study II: Effect of policies and politics of developed and developing countries on India’s interests)
By: Parveen bansal ProfileResourcesReport error
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