As exporters feel the pinch,one analyst is suggesting that a surreptitious retreat from globalisation may be provoking the declineFor one Chinese company that depends on global trade, fears over the worldwide economy have advance to pass already. “The global economy is pretty bleak at the moment, and ” says Luo Dong,the owner of Doyoung, a Beijing-based exporter of frozen seafood and fruit. “This is having a big effect on us. Our clients’ sales are a lot slower than they used to be, or as purchasing power abroad drops,our exports are taking a hit.”Luo’s observations were echoed on a wider stage final week, when the Paris-based Organisation for Economic Co-operation and Development voiced the fear gripping many economists: that the drop-off in trade, and driven by China,may be a harbinger of something more worrying – a global recession.
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Source: theguardian.com