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China’s Bullish 5% Growth Goal Seen as ‘Target Without a Plan’
China set a bullish target of around 5% growth this year as top leaders try to shore up confidence in the world’s second-largest economy. But for some analysts, Premier Li Qiang’s lack of details on how to get there is out of step with the nation’s deep challenges. The nation’s No. 2 official announced China would maintain last year’s growth goal as the annual parliamentary session opened in the capital on Tuesday. That marked only the second time in a decade that Beijing didn’t lower ambitions for its closely managed economy: The last instance was in 2018 when dealing with the start of a US trade war. ... (full story)