China rate cuts welcome, but not enough

August 26, 2015 12:40 PM

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Increasing anxiety about weakness in China's economy, which is undergoing a difficult transition, has sent domestic and global financial markets into a tailspin and raised questions about the grip its Communist Party rulers have on policy.

China accounts for more than 13 percent of worldwide gross domestic product (GDP) and is the planet's biggest trader in goods, making the health of its economy key to global growth.

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