By Christopher Adams – NZ Herald
Beijing-based investment advisor David Mahon delivered a sobering message to today’s China Business Summit – prepare for more bad news about the Chinese economy.
The New Zealander, who has lived in China since 1984, said the world’s most populous nation was heading into a difficult couple of years.
Chinese economic growth – which has dipped below 7 per cent, according to official figures – is slowing as the country’s leaders try to transition the economy towards domestic consumption away from export and investment-led expansion.
Mahon, chief executive of Mahon China, said moribund international demand for Chinese products was also putting huge pressure on the economy.
“It finds itself as a country with massive surpluses – more