Secular Café: China economy affected by euro crisis

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China economy affected by euro crisis Jul 25th 2012, 08:37 It really is having a global effect, as one might expect in an age of global interlinkage. http://www.bbc.co.uk/news/business-18978623 Quote: The International Monetary Fund (IMF) has warned that the worsening debt crisis in the eurozone poses a "key risk" to China's growth. The IMF added that China also faces domestic risks, not least from a sharper-than-anticipated decline in the property market. However, the fund said China had ample room and the fiscal tools "to respond forcefully" to any such developments. Growth in China's economy slowed to a three-year low in the second quarter... ...he fund said internal issues are also a threat to China's economic growth, including the country's property sector. Chinese banks lent out record sums of money in the past few years in a bid to sustain growth amid the global financial crisis. That resulted in a boom in the country's property market. However, there have been fears of asset bubbles being formed and of the impact of a crash in property prices on China's overall economy... ...Among the other domestic risks, the fund said that Beijing needs to keep the local government debt in check, which has been a cause of concern for many analysts.

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