How slow is the slowdown?
That’s the big question about the global economy’s big growth engine. The large stimulus that helped China rebound quickly from the 2008 crisis has worn out, leading to slower growth in 2012. In the second quarter, its economy expanded 7.6 percent compared to the previous year — pretty much right at consensus forecasts. Still, that was down from 8.1 percent growth in the first quarter, which itself was down from 8.9 percent growth at the end of 2011.