A picture tells a thousand words and this graph quite clearly explains why there is such a big fuss around the China growth story
A picture tells a thousand words and this graph quite clearly explains why there is such a big fuss around the China growth story. Quartz notes Profits of big industrial companies shrank 0.6% in August versus the previous year, after growing 13.5% in July. And recent data suggest it's getting harder to stimulate the economy through cheap money. If the China slowdown keeps up, it could be disastrous for countries that sell metal and energy to China. The chart attached (via Michael McDonough from Bloomberg) shows the percent of country's total exports that go to China. Against a basket of peers, including Japan, Sth Korea and the United States, Australia stands with the greatest exposure with more than 36% of exports heading to China. It helps place some context on why so much focus is spent looking at Chinese economic data.
1 topic