As far as McKinsey & Company is concerned, China’s current woes may be little to worry about——despite rising costs, unstable currency and increasing competition, China’s share of the global economy will be greater than ever in 2016.
And the $11 trillion economy will become increasingly diverse and ever-more multidimensional.
“The reality is that China’s economy is today made up of multiple subeconomies, each more than a trillion dollars in size. Some are booming, some declining. Some are globally competitive, others fit for the scrap heap,” the management consulting firm wrote in a recent report. “How you feel about China depends more than ever on the parts of the economy where you compete.”
Read more at Sourcing Journal.