China is faltering, but the world is not feeling the effects

China grew significantly slower in the second quarter than other emerging markets for the first time in three decades. PHOTO: REUTERS
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(FINANCIAL TIMES) - China's surprisingly rapid slowdown is eliciting familiar warnings that, as China goes, so goes the global economy. Except that the country may not matter as much as it once did.

Not so long ago, most economies were growing in close step with China. But in recent years those links weakened, and then collapsed during the pandemic.

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