China's economic slowdown continues and that spells trouble for the global economy.
"Things are not so good. November figures will come out soon, and industrial growth will be something around 5 percent and export growth will be negative," adviser Fan Gang told a conference, according to Bloomberg.
According to Bloomberg, this would be the worst figures in a decade. But the real worry is the impact this will have on the country's social fabric. With exporters cutting production or closing down, there are more labor disputes and that will increase the risk of social unrest in the world's most populous nation.
The other big worry is that this will result in a collapse in global trade. If that happens, it would make the the worldwide economic slump even worse and that in turn would increasing the likelihood of a depression reminiscent of the 1930s.
The figures on China's exports, imports, inflation, retail sales and industrial production are expected to be released this week, so we should watch this space.
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