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What Will It Take for China’s GDP to Grow at 4–5 Percent Over the Next Decade?
There are two different groups of economists in China that believe that with the right—albeit very different—set of economic policies, China’s economy will be able to grow sustainably by 4–5 percent for many more years. One group argues that China must maintain the investment-driven and manufacturing-intensive strategy it has followed during the past three to four decades. The other group argues instead that China can maintain high growth rates only if it sharply reduces the investment share of GDP and replaces it with a greater reliance on consumption, something which Beijing has been trying to do for over a ... (full story)