China is on the verge of a natural slowdown that will change the global balance of power, from finance to politics, and take the wind out of many economies that are riding in its draft.
What does the captioned phrase mean?
In the sport of bike racing one rider will often ride very close behind another to take advantage of the wind break, in other words, to allow the front rider to expend energy against the wind while he/she has an easier ride "in the draft". The writer is therefore referring to those countries which benefit from a fast growing Chinese economy and its resultant spending power, who are in a sense, riding in China's draft.
However, I feel the metaphor is poorly employed here because in the same sentence the writer uses the phrase "take the wind out of". This is a sailing metaphor, "to take the wind out of the sails" of the economies, meaning to deprive them of confidence and momentum.
So the economies are having to face the wind without China's help, while having the wind taken away from them! This mixing of metaphors makes the sentence a little awkward.
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