Why China May Not Matter Quite As Much As You Think

Ok, it’s true that in China growth of 9.6%—recorded in the year to the third quarter—represents a slowdown and that, according to the IMF, China will account for almost a fifth of world growth this year (just over a quarter at purchasing-power parity).

Yet, when the Bank Credit Analyst, an independent research firm, asked what would happen if China suffered a “hard landing,” its answer was far