The crisis has slowed down China, the world’s second biggest economy

Kanal 35, 21 March 2009

Adnan Oktar:  I told that until 2014 a system similar to the Noah’s flood would go on. I told that economic crisis would swallow and continue exponentially. They did not accept this and told that the system would recover in a year. I said that this is not the case and added that it would last for 7 years. Notice that it came to be true. It will continue and meanwhile cause the collapse of countries’ economies and sweep all the major industries, all the well-known companies. And only the Turkish Islamic Union will save the world, let me say it.

GDP growth may possibly drop to below 9% in 2012

Facing the global economic slowdown, China's GDP (the gross domestic product) growth next year may slide below 9 percent, the first time since 2002, according to a government chief economist Tuesday.

"The weak global demand is a challenge for Chinese exports," Huang Guobo, chief economist at the State Administration of Foreign Exchange, said at a forum held in Beijing. "Next year, if the situation continues, China's economic growth rate would possibly fall below 9 percent," said Huang.

At the end of last month, also Swiss bank UBS revised downwards China's GDP growth from its earlier projection of 9.3 percent to 9 percent this year. It also downgraded the growth estimate for 2012 to 8.3 percent from the original 9 percent.

According to an economic research report mailed to the Global Times Tuesday by Barclays Capital, during the next five to ten years, China will experience a transition from "economic miracle" to normal development.