China’s Slowing New Normal
While some observers agree that China can sustain 6-7% growth for the next decade or so, provided that the government implements a comprehensive set of reforms in a timely manner, others expect its growth to continue to trend downward. Who is right will depend on China’s success in boosting household income and consumption.
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MILAN – The world’s two largest economies, the United States and China, seem to be enduring secular slowdowns. But there remains considerable uncertainty about their growth trajectory, with significant implications for asset prices, risk, and economic policy.