More worrying signs for the global economy with the World Bank forecasting that China's growth will slip to 7.5%. Now that is a real concern, given that China had come out with its eye-popping stimulus package, although as Paul Maidment at Forbes points out, we don't actually know how much is how much of it's new money, how much of it is old, and how much is going to get done. It's all terribly opaque, not that transparent and if nothing else, the Chinese are brilliant when it comes to propaganda.

In the full report, the World Bank suggests that China might need to rethink its strategy of focusing the stimulus on infrastructure. The government can use the opportunity of the fiscal stimulus
package to take more rebalancing measures, including on energy and resource pricing; health, education, and the social safety net; financial sector reform; and institutional reforms".

Now, 7.5% is not bad in itself but growth in China falling and the question is whether it will have an impact on employment and Chinese society.