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The Association of Chartered Certified Accountants recently released a report which showed that as the global economic situation has slowed, confidence in the Chinese economic market has declined.
The ACCA's Global Economic Conditions Survey for the second quarter showed that China's economy has slowed significantly, which could affect its commercial real estate market. Investment in the country has dropped, while confidence has fallen with it.
"The point now is to see how far and how fast the Chinese slowdown will travel," said Manos Schizas, senior economic analyst for ACCA. "Our members in Africa tend to feel any fallout from Asia fairly quickly, and there could be implications for other markets which trade with China."
While China's situation soured during the second quarter, this allowed the United States' market to have a bit stronger recovery, the report said. This is because American investment has improved and confidence climbed. However, there are some issues still in the American market, as well.
The report added that many accountants think that the government intervention in many economic markets such as the U.S. and China, has been unsustainable, and these stimulus packages will not do enough in the long-run.
