China’s Struggle to Slow
With the global economy still struggling to recover, Chinese Premier Wen Jiabao's recent announcement that the government’s target for annual economic growth in 2012 was 7.5% sparked widespread concern around the world. But most Chinese economists rightly believe that the growth rate will remain well above 8% this year.
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BEIJING – At the opening of the annual session of China’s parliament, the National People’s Congress (NPC), Premier Wen Jiabao announced that the government’s target for annual economic growth in 2012 was 7.5%. With the global economy still struggling to recover, Wen’s announcement of such a significant dip in China’s growth rate naturally sparked widespread concern around the world.