The sound of silence

[Muadib]

The real nostrildamus speaks:

<So what’s Pettis’ grand prediction today? That during the decade of current President Xi Jinping’s term, China will enjoy only an average growth rate of 3 to 4 percent, down from 10 per cent in the previous 10 years. That suggests a few really bad years ahead, perhaps starting now. The view is gaining traction: Hong Kong fund manager Geoffrey Barker at City Financial Investment Company says that China’s current stock market meltdown is the result of too much borrowing throughout the economy and warns of an “inevitable” recession. “Nobody here really believes that GDP is running at 7 percent — 3 percent maybe.”

Read more: China's Market Crash — and the Man Who Saw It Coming | Rising Stars | OZY>

I now return you to regularly scheduled programming..

[Assasin]

Leave it to the economists. LOL!!!

[Sir X]

The $17 Trillion Dollar Brics Shift That Few Noticed
Author: Dan Steinbock · July 13th, 2015 · Comments (0)
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As the focus of the West was fixated in Greece and Iran, the 7th BRICS Summit began a massive shift from a dialogue to an economic partnership – one whose full impact will be witnessed in the coming years.

The seventh BRICS Summit took place in Ufa, the capital of Russia’s Bashkortostan Republic. In the West, most observers were preoccupied with the “make-or-break” days of Greece, which accounts for less than 0.4 percent of the global economy, rather than the BRICS Summit, which represents about 20 percent of the world economy.

- See more at: http://www.economonitor.com/blog/201....cTX0Xd8O.dpuf

[Assasin]

3 percent still pretty decent, but when you are use to 7 percent as China has been used to over the last 30 years it may cause some rumble.