onsdag 30. desember 2015

China's 'new normal' - a bit too much like the old normal

High speed ageing and a massive debt headache are catching up with China's growth miracle. Its slowdown is real and irreversible, and the only question now is whether structural reforms can release enough growth potential to cushion the blow and help the country avoid what economists call the "middle income trap". This fate, where a country gets to a certain income level and then stops growing, is China's current fear. Read more