Global economy squeezed by worsening slowdown in China

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Workers walk out from a construction site at the Central Business District of Beijing, China Tuesday, Jan. 20, 2015. China's economic growth slowed to 7.4 percent last year, the weakest expansion in more than two decades. The numbers released Tuesday, are still miles ahead of growth rates in major industrialized economies, but represent a sharp decline from double digit growth in previous years. That adds to pressure on the country's communist leaders as they try to prevent a sharper slowdown in 2015 while overhauling the economy. (AP Photo/Andy Wong)HONG KONG (AP) — The global economy, slowed by stagnation in Europe and Japan, is being further hampered by China’s decelerating growth.

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