A Makeover for Chinese Macroeconomic Policy
While China is not about to recapture double-digit GDP growth, that does not imply economic catastrophe. After four decades of rapid growth, a slowdown was inevitable, and if China readjusts its macroeconomic policy stance, it can prevent that slowdown from being excessively sharp.
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BEIJING – China’s economic performance in 2018 was rather disappointing. According to official statistics, the country’s growth rate up to the end of the third quarter was 6.7%, the lowest since the global financial crisis. The real situation was probably even worse.