China’s Coming Growth Tests
While no one should be surprised by the recent recovery in China's economic growth, the true challenges lie in the medium and long term. Indeed, the current economic rebound is not an achievement worthy of celebration if it comes at the expense of further reform and structural adjustment.
BEIJING – The most recent official data show convincingly that the Chinese economy has bottomed out, and it is now widely expected that annual GDP growth should reach roughly 7.8% in 2012. This result should come as no surprise.