Neighbours don’t let neighbours rely on the Chinese consumer alone
— The Globe and Mail
What is this thing we call the global economy? Cast your eye around the world today and what we see are regional economies moving in different directions.
The good news is that China’s economic motor is now accelerating: the latest GDP statistic from Beijing signals a rebound in the final quarter of a weaker 2012. Overall, China’s output was up 7.8 per cent last year, the weakest year for more than a decade but in the last three months of 2012, it expanded by 7.9 per cent, thanks to a late boost in industrial output and buoyant retail sales.