The third quarter GDP number for China was released today, showing a decline in growth to 7.4 percent (compared to 9.1 percent a year ago). Instead of a long post reiterating all the factors at play, sometimes a chart or two can sum things up succinctly.
Here are the two most important graphs for understanding the slowdown.
Exports to Europe (percent growth YoY):
The crackdown on the residential real estate market and the ongoing crisis in Europe continue to restrain economic growth in China.