China helped pull the world out of a recession after the 2008-09 crisis. Don’t expect a repeat performance.
Getting the global economy back on its feet this year won’t be easy. But it will be even tougher without more help from China, the locomotive that powered recoveries from the world’s last economic emergency.
During the 2008-09 financial crisis, China’s soaring demand for raw materials and other goods boosted growth across the world, underpinning rebounds in places like Brazil and Germany. Some countries, like Australia, avoided recession almost entirely thanks to trade with China.
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