Chinese economy risks deeper slowdown than markets realize Bloomberg News


Source: businessmirror.com.ph businessmirror.com.ph

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Bank of America Corp. and Citigroup Inc. are among those sounding the warning that expansion will fall short this year of the 8.2% anticipated by the consensus of economists. The slump could last into next year, forcing growth below 5%, they warn. Outside 2020’s 2.3%, that would be the weakest in three decades. Strategists at Bank of America muse that Xi may even be embracing a once-in-two decades restructuring of the economy akin to Deng Xiaoping’s modernizations of the late-1970s and Zhu Rongji’s revamping of state-enterprises and finance in the 1990s. “If so, the data flow from China could confound...