A deepening global crisis saw the Peoples Bank of China (PBoC) delivering a surprising 25 basis points rate cut. Todd Lee, chief China economist, IHS Global Insight says any further monetary easing in China will depend on the severity of the situation.
Goldman Sachs has cut its 2011 GDP growth forecast for China. The bank downgraded its view to 9.4% from the earlier 10% for this year. Todd Lee, Chief Economist–China at IHS spoke to CNBC-TV18's Menaka Doshi on what he makes of Goldman Sachs' downward revision and what it means for the rest of the globe if China is slowing down as anticipated.