Global economy weakens amid China's slowdown

Thursday, 26/05/2016 | 08:32 GMT

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Global economic growth is under threat, especially the worldwide banking system, in the scenario where China's slowdown resumes further, Raghuram Rajan, India's central bank governor warned.

Rajan's statement came after his speech at the South Asian Association for Regional Cooperation (SAARC) meeting.

Global banking system under threat

The banking system might face severe financial damages, as well as exposed to weaknesses that arise from bad loans in the banking sector. China's growth depends also on other economies that face significant risks too.

Moreover, Raghuram Rajan stated that the Chinese economy could place strong downside pressures to other nations unless measures and actions are taken to resolve the current condition.

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Source: https://www.argusfx.com/en/research-education/market-analysis/news/global-economy-weakens-amid-china-s-slowdown

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