China Is Slowing

If the US debt ceiling, Europe sovereign debt, and the down grading of America's credit rating weren't enough, according to this Bloomberg article, it now seems that China is slowing:

Growth in China, the world’s second- biggest economy, is slowing “significantly,” according to The Conference Board, a New York-based research organization.
“The economy is significantly moderating right now and also over the next couple of months,” Bart van Ark, the organization’s chief economist, told Bloomberg Television from New York today. “We still expect it to be pretty much a soft landing.”

The Chinese economy is cooling after the government raised interest rates and banks' reserve requirments and extended curbs on the real-estate market, adding concerns about the outlook for the global economy. Christine Lagarde, the international Monetary Fund's managing director, today urged developed contries to support economic growth even as they make fiscal cuts.

There are some who say the lending and spending in China is out of control. One worrying manifestation of this belief are China's ghost cities. Entire communities built but which lack people.







At the end of the video the reporter states that "Everything is completely different" in China. Those sound like famous last words.