Commentary China’s “economic miracle” looks poised to be in the rearview mirror, as Party leaders appear to be preparing the country for a period of slowing growth going forward. In October Beijing announced sharply lower third-quarter official GDP growth figures, with a 4.9 percent mark that missed economist consensus by 30 basis points. In late October, state-run news agency Xinhua published a long document titled “Ten Questions About the Chinese Economy” that went in-depth to explain several economic, financial, and social-economic hot topics currently facing China. The article was widely republished across numerous state-controlled media including People’s Daily, the Chinese Communist Party’s (CCP) official mouthpiece. What is being discussed? The article points out that China’s economy has maintained a recovery trend in a “reasonable range,” but admits that the country faces numerous headwinds as “economic growth has fallen, commodity prices have risen, and power rationing in many places across the country.” The …
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