Chinese economic growth slowed to the lowest level since 1999 last year, expanding 7.7%.
Policymakers have recognized the need to rebalance economic growth and are now slowly transitioning away from a credit and export driven economy to one driven by consumer growth. Some argue that the recent crackdown on shadow banking and the money market rate spikes are part of this effort.
But what sort of ripple effects impact is all of this having on the global economy?
First, let’s take a look at economies that rely on China to consume their exports.
Bloomberg chief economist Michael McDonough tweeted this chart that shows the percent of country’s total exports consumed by China.
Read more: http://www.businessinsider.com/ripple-effects-of-chinese-slowdown-2014-2
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