Tim Hannon

The Chinese Consumer in Time of Financial Crisis

Thanks Shaun, great topical article.
How is it possible that consumption can continue to grow so strongly as GDP growth rapidly decelerates via slowing exports which has a multiplier effect on the rest of the economy. With GDP forecast to slow to 5-7% (i.e. a halving of the past decade's growth rate), how can consumption can grow at such a multiple of this number?