The International Monetary Fund cut its estimate for China’s growth rate this year to 5.6 percent, down from the 6 percent it had forecast in January.
About a third of global economic growth is driven by China’s economy, up from just 3 percent in 2000. Also in 2000, China made up 1.2 percent of world trade; that number now is about 33 percent globally and 41 percent across Asia.
Much of Vietnam’s economy is derived from importing semi-finished products from China and exporting them worldwide. Since the virus epidemic took hold, more than half of those companies are having trouble getting goods from China, the American Chamber of Commerce in Vietnam reports.
