BEIJING, China – For the 3rd straight month in a row, the manufacturing powers in China have been on a downward trend. Even with the holiday season preparing to go on a frenzy throughout the rest of the world, Chinese factories are getting fewer and fewer orders lately. This isn’t just a trend over the past three months, as China has been seeing many difficulties with contracts in its manufacturing sector.
Made In China On Decline For 3rd Straight Month
A shrinking of activity in the world’s 2nd largest economy has many financialists worried around the world. US and European stock markets have swung up and down in recent months based on predictions and reactions to the Chinese markets as well. Many people have been predicting that China’s boom of the 2000’s may be coming to a halt, if it hasn’t already.
China has been working on altering its economic strategy in order to prepare for becoming more self reliant. In the past the Chinese economy has relied very heavily on the trade of exported goods, and now China is working on strengthening its domestic market. They hope to be able to grow business within their borders and to raise the quality of their economy overall.
Even though it may look like China is on the decline, they are still doing better than most other countries in the world as a whole. Their production may continue to be on the decline, but it has been a moderate slope at this point so far. As long as they are able to avoid any sort of financial cliff in the near future, then they can prevent their economy from heading into a nose dive like the US market did almost 10 years ago.
Made In China On Decline For 3rd Straight Month.