China's slowdown could be a plus for US, Europe

Hong Kong

CHINA'S slowdown is blamed for causing everything from global market turmoil to falling sales of crocodile-skin handbags. Some even say it could trigger a global recession.

Yet the slowest growth in 25 years in the world's second- biggest economy is proving a boon for consumers and companies in Western Europe and the US, according to Neville Hill, co-head of global economics and strategy at Credit Suisse Group AG in London.

Here's why. When China grew at double-digit rates, its voracious demand for materials drove up commodity and energy prices. That hurt the buying power of consumers in Western economies…