China’s slowdown, coming after years of over-investment in real estate and infrastructure, is also causing a global glut of manufactured and industrial goods. With domestic demand in these sectors now contracting sharply, the excess capacity in China’s steel and cement sectors – to cite just two examples – is fueling further deflationary pressure in global industrial markets.
中国在多年的房地产和基础设施投资过度后出现了减速，这也是全球制造品和工业品供过于求的原因之一。这些部门的内需出现了大幅收缩，因此，中国钢铁行业——这只是一个例子——的过剩产能推动者全球工业市场陷入更大的通缩压力。