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China ready to unleash growth potential
The Chinese economy will grow beyond 5 percent this year if the government adopts more proactive fiscal and monetary expansion to stimulate domestic investment and consumption, said Justin Yifu Lin, dean of Peking University's Institute of New Structural Economics. In an exclusive interview with China Daily, Lin said that the nation's potential annual growth rate in the coming decade could be 8 percent or higher, rebutting theories that economic growth will continue to drop due to such factors as demographic changes and the so-called balance sheet recession, as experienced by Japan. A balance sheet recession implies ... (full story)