Could the 'made-in-China' recession arrive before the global economy has properly recovered from the financial crisis? It seems likely.
Economists estimate that Chinese growth has already slipped to 5% (below the official rate of 7%). The recent devaluation of the renminbi together with government interventions to try to prevent the stock market falling suggest that the government is engaged in the economic equivalent of trying to push water uphill. This may work for a while, but eventually the Chinese economy will surely do what every other economy with market elements and foreign trade does: pause for breath.
