China’s Economy Is Slowing Which Could Have Big Consequences for the World. Economic output grew 4 percent in the last quarter, a slowdown from the previous quarter. Growth faltered as home buyers and consumers became more cautious. Construction and property sales have slumped, as the country grapples with power shortages, Covid-related restrictions, a crackdown on a range of companies, and debt troubles in its property sector. Some of those pressures could ease, but China’s economy may be on the path to slowing down for a while still—and that could have global ramifications.