(Fall 2017) Nowadays China is growing at rapid clip, averaging 10 percent growth per year. According to the World Bank, China is "the fastest sustained expansion by a major economy in history.” The United Nations classifies China as a developing country, but as Quartz reporting highlights, the official definition is...not exactly defined, officially.
China's economic performance collapsed after the Great Recession of 2008. Demand for Chinese exports took the wind out of the economy. The slowdown in exports influenced not only production volume but also employment; the government said that more than 20 million migrants lost their jobs.
So, let’s look at the Chinese economy now. As the second-largest economy in the world and the world's trade engine, a shock in China today is likely to have a similar economic shock as did the US housing credit bubble in 2008.
*Ratio is estimated based on net debt to EBITDA ratio.
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