Slowing U.S. economy to cut China GDP by 1%, official says

WASHINGTON (MarketWatch) — The U.S. economic slowdown could cut China’s economic
growth by 1 percentage point, according to Fan Gang, a member of the monetary
policy committee of the People’s Bank of China, Xinhua news agency reported
Sunday. Fan told an economic conference in Boao, Hainan, that the U.S. slowdown
is cutting into trade and investment. The slump in the growth of exports was
largely due to Beijing’s policies, not a credit crunch, he said.

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