Business Live: JetBlue trans-Atlantic? - BBC News

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The National People's Congress has opened in Beijing with a warning that the economy faces a "tough struggle".

"It's very important for the rest of the world, given how big China's influence has become, that it doesn't get any weaker than 6% (annual GDP growth) and it all starts to destablise in a vicious way," said Lord O'Neill, currently vice-chair of the Northern Powerhouse Partnership, but from 1995 to 2013 an economist at Goldman Sachs.

"Because of their ageing demographics, and a lot of the boost of urbanisation having already taken place, it's not that easy for them to grow at the rates of the past," he added.

He is also "bothered" by the slowdown in consumer spending in China.

"Perhaps, the biggest reason why Germany slowed down in the second half of last year is because Germany has been at the forefront of those that exported so well to China."

Exporting to China has never been that big for the UK, so we have not noticed the slowdown there, he said.

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