There is no doubt that China is slowing – substantially. But even so, investors are calm. Most are positioned for Chinese economic growth to come in close to the magic 8 per cent number this year and beyond.
With expectations so high, markets from equities to commodities have a way to fall if the Middle Kingdom’s recent bout of weakness persists or worsens over the rest of the year.
Electricity consumption, industrial production and other economic activity indicators suggest that in recent months China’s growth rate dropped below 7 per cent – a level that many economists classify as a “hard landing”, such is their faith in Beijing’s ability to maintain growth near 8 per cent.
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