Everyone looks to China to lead the global economy. The reason for this is that it, by far, had the largest growth rate across the world.
The downturn in the global economy in 2016 was reversed in 2017. Many thought this was the start of another bull run. China was looked at as the provider for that growth.
Latest statistics reveal this is not happening. Growth in China is not accelerating like many thought. It is slowing. This means the global economy is also seeing the same fate.
This puts central banks of the world back on their heels. They operated as if 2017 was the kickstart to a faster improvement in the global economy. Now, they are confronted with a slowing growth rate.