China’s huge economy, a major driver of global growth, is cooling just when the world needs its spark. On Monday, Chinese officials said that, during the last three months of 2018, the economy grew at its slowest pace since the global financial crisis. It is happening at a difficult time. The broader world outlook is beginning to dim. The American economy, which has powered ahead in recent years with strong growth and low unemployment, is showing some signs of a slowdown and is facing higher short-term interest rates that could act as a brake. Europe’s resurgence is beginning to show its age, too, with even Germany’s industrial engine starting to sputter.
