Global Slowdown Hammers China and India
According to the latest economic data crossing the business news headlines, India’s latest GDP growth is expected to hit a terrible low of 7.1% this year. While most countries would cheer at such a growth rate, India is a little different and such a slow growth rate has not been seen in decades. What’s worse, China’s exports are also down. The reason these countries will suffer? Simply, with weak demand from the United States and equally weak demand from Europe, even the cheapest products manufactured in these countries will not find retail purchasers to bring them home. Until Europe and the US can get their economies chugging along again, these two countries will continue to see slower growth.