Slowdown in China's industry affects the world economy

摘要

China's manufacturing engine lost further momentum in July and the job market weakened, a survey showed recently, complicating a transition to consumer-driven growth and boding ill for so many leveraged to the worid's second-largest economy. The knock-on effecs are already being felt more and more widely - from a slowdown in Japanese export growth despite a weaker yen, to Apple lamenting a rare drop in Chinese demand for its premium brand of gadgets. "China's slowdown is starting to become more dangerous," warned Yasuo Yamamoto, a senior economist at Mizuho Research Institute in Tokyo.