China Growth Slowing Down But 80% Of Economy Doing Ok

About 20 percent of China’s economy is shrinking and 80 percent is growing moderately, according to independent economist Andy Xie.

Xie told CNBC Asia’s “Squawk Box” on Friday that a credit bubble in China’s economy is deflating slowing, leading to weaker growth momentum.

“20 percent of China’s GDP is shrinking and 80 percent is still growing moderately,” Xie said.

China, the world’s number two economy, has not had a great start to the year. Economic data paints a picture of a slowing economy, with this week’s HSBC purchasing managers’ index showing manufacturing activity continuing to contract.


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Mingze Wu

Mingze Wu

Currency Analyst at Market Pulse
Based in Singapore, Mingze Wu focuses on trading strategies and technical and fundamental analysis of major currency pairs. He has extensive trading experience across different asset classes and is well-versed in global market fundamentals. In addition to contributing articles to MarketPulseFX, Mingze centers on forex and macro-economic trends impacting the Asia Pacific region.
Mingze Wu