In previous downturns the world turned to China as an engine of growth – this time that driver may not be there

How China’s economy fares will have a major bearing on the fate of countries that rely on it as their biggest trading partner. Photograph: Anton Petrus/Getty Images

When Australia’s central bank released its quarterly economic update last week, China’s “uncertain” economic outlook topped a list of domestic worries for Australia.

The International Monetary Fund too singled out China in its latest world economic outlook as among the “downside” tilts to its balance of risks.