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China looks 'a lot like the U.S. in 2008'
Sure, China's growth isn't what it used to be, but is the country on the brink of a financial crisis? Not if you ask its leaders. Vice Premier Zhang Gaoli speaking at the China Development Forum in Beijing on Sunday said China's economic slowdown is stabilizing. Zhang pointed to "employment, services, high-tech industries, new industries, private investment and innovations," as bright spots in China’s economy. But earlier this month, China set its 2015 GDP growth target at around 7% which is the lowest in 11 years and down from 7.4% in 2014. The economy is being weighed down by a slowdown in real estate and ... (full story)
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