Crude oil prices have dropped to around 30 U.S. dollars. The drop is positive for Japan, which is an importer of crude oil, but has a negative impact on commodity-exporting economies including Russia, Brazil, and countries in the Middle East, creating uncertainty for the global economy. Furthermore, Chinese stock prices have declined considerably, resuming the slide that started last summer.
However, although the Chinese economy has embarked on a process of deceleration, it has not deteriorated suddenly. The reasons for the slowdown in the Chinese economy appear to be the adjustment of excess investment by manufacturers and restraint in public investment by municipal governments under the tightening of discipline.