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.

CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.