Impact of slowing economy of China on world economies

China's economy has been slowing down for the last few years. The current year over year GDP increase of 7.5% is far less than 14% increase of 2007, though it is still much greater than all other economies. China's rapid expansion and the ever increasing demand for raw materials is one of the main reasons of boom to the pricing of commodity producing economies. China with absorbers of approximately 1.3 billion is one of the largest importers of world commodities starting from clothing to machinery. China's gross imports contribute to 2.9% of the world GDP while that of whole of European Union is 3.6 % and 3.8% of United States. It is certain that if the demand from one of the largest consumers of the world's export flags, then the global economy will have to suffer severe consequences.

What is the impact of the slowing economy in India and China on the economies of the world.

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