Global growth – still made in China

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Interesting analysis on the economic and geopolitical comment site Project Syndicate on the continuing reliance the world has on China for economic growth. No matter that the country’s exports are on the wane, nor that the government appears intent on rebalancing the economy away from manufactured exports to services and domestic consumption, China is set to account for around 40% of the 3.1% global GDP growth forecasted by the IMF, cementing its fundamental role in the world’s economy. “China’s contribution to global growth is, in fact, 50% larger than the combined 0.8-percentage-point contribution likely to be made by all of the so-called advanced economies.”