The Economic Downturn and the Chinese Consumer
- VOLUME XI, ISSUE 6
- Executive Insights
China is not immune. China has experienced nearly two decades of torrid economic growth with annual GDP increases around ten percent from 1990 to 2008. It emerged quickly and relatively unscathed from the Asian financial crisis as well as SARS. It is clear now, however, that China is not immune from the current global downturn. Forecasts for GDP growth have been continually revised downwards since late last year, and the latest consensus appears to have settled in the 5-8 percent range for 2009.