China’s slowdown creates opportunities for its competitors

Shang-Jin Wei says an industrial decline in China may help its neighbours, but a reduction in demand for commodities will negatively impact on many countries.

CHINA’S economic slowdown in 2015 will have important consequences for countries in the region and beyond. For most countries, the sub-7% GDP growth expected this year — and in the coming years — would be a cause for celebration.

After three decades of double-digit growth, however, the weakening performance of what is now the world’s second largest economy is a significant source of concern — and not just for the Chinese.