McKinsey: China Brief – The state of the economy
Welcome to the first edition of China Brief. In this series, linked to our monthly podcast, McKinsey on China, our China-based partners share the latest insights from this dynamic market.
Pundits have been buzzing in recent months about the slowdown of China’s economic juggernaut. There is evident cooling of GDP growth, especially since the middle of last year, and sales of cars and smartphones have been dropping steeply. Some high-profile companies are flashing warnings of plunging sales and some even of job cuts.
Yet, despite the doom and gloom China continues to rack up one of the most enviable growth rates in the world, adding the equivalent of “another Australia” each year. Consumers continue to trade up to more expensive premium goods and some companies are registering record sales. So the gloom is not uniform. What do the facts tell us about what to expect in 2019? In this first edition of China Brief, we take a quick look at some of the key drivers shaping China’s economy today.
