China's economy slows to lowest rate since depths of financial crisis in 2009Submitted by go213mph on Fri, 07/13/2012 - 11:14
China's economic growth slows to 7.6%
Second-quarter GDP growth in world's second largest economy falls to lowest rate since depths of financial crisis in 2009
The Chinese premier, Wen Jiabao, warned last week that the economy "still faces relatively huge downward pressure". Lower than expected consumer inflation and import growth, in addition to producer price deflation, have also unnerved investors.
Xianfang Ren, an economist at IHS Global Insight in Beijing, told Reuters: "Overall, this is a soft landing, but we can see that the Chinese economy is undergoing serious pain.