With China importing less, global growth will be mediocre: Natixis

HONG KONG - With the Chinese Government unveiling a lower economic growth target rate of 6.5%-7%, Natixis says it expects China’s manufacturing over-capacity problem to spread to the world an at even faster rate. “Although the Government has a strong wish to tackle the overcapacity problem, it has a big concern that shutting down overcapacity factories will hurt the labour market as well as the overall economy,” the bank says.