China Faces Economic Slowdown.
The AP (11/10, Kurtenbach) reports, "Stalling worldwide demand for products made-in-China is driving home a new economic reality for businesses that until recently were struggling to keep up with soaring exports." Although the country's economy is still growing by nine percent, its growth in the last quarter "was the slowest in five years and down from 11.9 percent last year. Forecasts for next year range as low as 7.5 percent." Because of "the suddenness and severity of the chill from the global slowdown," Chinese officials announced "late Sunday a $586 billion economic stimulus package aimed at boosting growth in China's own markets." Some experts have expressed optimism over the package's impact, but it remains "unclear whether the package will be enough to salvage exporters left high and dry by overseas customers who are either canceling or abandoning orders as they face what might be one of the bleakest Christmas shopping seasons in decades."
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