China poses the biggest threat to the global economy as its debts soar, according to a leading economist. Ken Rogoff, the former chief economist at the International Monetary Fund, said the country could suffer a calamitous slowdown – dragging the rest of the world down with it. A so-called ‘hard landing’ in the world’s second biggest economy, where growth drops to dangerously low levels,
would be a disaster for other countries including Britain. China is the UK’s sixth biggest export market with sales of goods made in British factories to the People’s Republic jumping from £877million in 1998 to £15.5billion in 2014. But exports to China fell 22 per cent to £12.1billion in 2015 with car exports down a thumping 37.5 per cent. READ MORE
Advertisement
