Australian Companies Worried About the Slowdown in China

The Chinese economy is showing signs of losing steam in the second quarter. A slew of disappointing indicators have analysts around the world worried. The official Purchasing Managers Index fell to 50.4 last month, and based on current data, growth in the second quarter is expected to fall below 8 percent. The two main drivers of Chinese growth, investment and consumption, are showing broad signs of weakness. And this could be bad news, not just for China, but also for some of its biggest trading partners, with commodity-dependent countries like Australia, especially at risk. China is the world’s largest consumer…