"China’s retail sales have increased by 10.5% in real terms this year, well ahead of economic growth.....Does this mean that Chinese shoppers are poised to become an engine of the world economy, like their fabled American counterparts? In some ways this has already happened."
"...it will not be a cure for ailing global growth. The commodity-exporting countries whose fortunes have hinged on China over the past decade stand mainly to lose..."
From:
economist.com/news/finance-and-economics/21667927-chinas-consumption-boom-not-enough-succour-world-economy-doughty-notYou may need to register at The Economist website before reading the article.
