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China Daily Mail

China Daily Mail

China’s 1.3 billion consumers may be the only thing preventing the world’s second-largest economy from a hard landing that could reverberate across global markets, according to a report issued by asset manager BlackRock Inc on Tuesday.

The Chinese economy is transitioning from production and exports to building a strong middle class that could support future growth. That shift is likely to end the country’s run of double-digit economic gains, leading to further volatility in global stock markets, BlackRock managers said.

“Most economies slow when they move from production to consumption,” said Ewen Cameron Watt, chief investment strategist at the BlackRock Investment Institute.

Investors who continue to bet on hard commodities and infrastructure could be especially burned by the shift, Watt said. Basic materials companies will likely suffer as China slows its commodity consumption, leading to drops in profits and share prices for Australian, Canadian and British companies that have supplied…

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