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How big is China's economy, really?

Much has been written about how important China is to the global economy, but exactly how much of a difference will a Chinese slowdown mean for the world?

HSBC's chart of the week gives a handy overview.

Source: HSBC

It shows that even if China's economy slows to 7.4 percent this year, as the bank has forecast, the country will still add almost twice as much dollar demand to the world economy compared with the United States, if the latter grows at 2.3 percent as predicted.

And, in the worst case scenario, if China's growth pace tumbles to sub-5 percent (as many doomsayers have touted), a 4.25 percent annual growth rate would simply match incremental U.S. demand.

No wonder even the slightest China rumblings have markets on tenterhooks.

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