Wednesday, September 28, 2016

China debt could wreck the global economy: Leading economist warns country could suffer a calamitous slowdown

  • Economist Ken Rogoff said that China could suffer a calamitous slowdown
  • He was the former chief economist at the International Monetary Fund
  • China is the UK's sixth biggest export market after sales have shot up  

By Hugo Duncan, Deputy Finance Editor For The Daily Mail

China poses the biggest threat to the global economy as its debts soar, according to a leading economist. Ken Rogoff, the former chief economist at the International Monetary Fund, said the country could suffer a calamitous slowdown – dragging the rest of the world down with it. A so-called 'hard landing' in the world's second biggest economy, where growth drops to dangerously low levels, would be a disaster for other countries including Britain. China is the UK's sixth biggest export market with sales of goods made in British factories to the People's Republic jumping from £877million in 1998 to £15.5billion in 2014.   Read more

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