Hello, I'm Ed Butler and welcome to Business Daily from the BBC.

Today, the pain of super-rich Chinese as the slowdown begins to bite.

As a real estate agent for high-net-worth clients, I used to buy quite a lot of burberry and Gucci, but now I'm cutting back on this.

Yep, China's economy is slowing. How bad will it get for the rest of us?

I'm actually worried about the risk of military confrontation between the US and China.

So the world better be prepared for a serious economic crisis in 2019, unless the trade war can end.

That's all to come in Business Daily from the BBC.

China's economy is officially growing at its slowest rate for almost three decades.

Does that sound bad?

Well, slow in China is still amazingly enviable, pretty much to everyone else, a six and a half percent annual growth rate.

So how should we all be feeling about it?

Well, China's growth figures have long been disputed, of course, but it's really in the context in which they come.

That's got some people worried amidst mounting levels of public and private debt in the country,

and of course,

those very public trade tensions and rising tariffs between China and the United States,

its biggest single export market. More on the trade tensions in a moment. But first,

let's go to the streets of Shanghai, where it's becoming ever more apparent that regular consumers

are beginning, just

beginning, to rein in their spending. This is what one food stall owner told us this week.

My name is Chu Kai Mei. I've been selling pork in Shanghai for more than 20 years. Businesses are struggling

in Shanghai. It's not as easy to make money as before. We have a very slim profit margin and

customers are buying less. The vegetable sellers and the beef sellers, a lot of them are struggling.

...