April 19, 2014

Heineman sees no problem in China’s economic slowdown (AUDIO)

Gov. Dave Heineman expresses no concern that a slowing Chinese economy might hamper efforts by Nebraska businesses to expand exports to the country.

Heineman has returned from a week-long trade mission to China and acknowledges talk often turned to a downturn in the economy there.

“It’s clear that there are a number of concerns about the Chinese economy. It’s interesting in a way; the concern is they’re not growing at double-digit growth. It may be only 8 or 9%,” Heineman says, quickly noting that such a downturn would be welcomed in the United States.

The New York Times reported that a key economic indicator, the official factory purchasing managers’ index slipped in July. Factory output grew slightly. New orders and exports declined.

Heineman expects the Chinese economy to stabilize and remain not just a sizeable market for Nebraska businesses, but a prime target to lure investment to Nebraska.

China boasts the second largest economy in the world, behind the United States. China is Nebraska’s fourth largest trading partner.

AUDIO: Brent Martin reports  [:35]