• News Feeds
Page last updated at 11:27 GMT, Friday, 9 November 2012

China's slowdown 'just the hors d'oeuvre'

In the last 30 years China has undergone the greatest economic boom in the history of the world but, as the country prepares to transfer leadership, growth seems to be slowing down.

The latest figures have shown that GDP is increasing by 7.5%, the lowest rate since 1999.

George Magnus, a senior economic adviser at UBS Investment Bank, follows China closely and believes that China now faces its biggest economic challenge since the initial opening of the country in 1978.

Mr Magnus told Today business presenter Justin Rowlett that, the country "is in the process of, what in China they call, the huge economic rebalancing."

"The slowdown in growth so far is actually just the hors d'oeuvre."

He described a "new normal of about 5% growth… not seven or eight".

Get in touch with Today via email , Twitter or Facebook or text us on 84844.


Story Tools


Sign in

BBC navigation

Copyright © 2017 BBC. The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.

Americas Africa Europe Middle East South Asia Asia Pacific