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China Needs Economic Stimulus
China’s GDP growth may still be strong by global standards, but the annualized rate of 6% in the third quarter of 2019 is the lowest the country has recorded since 1992. In fact, China’s GDP growth has been slowing steadily since the first quarter of 2010, when it exceeded 12%, year on year. This downward trend is riskier than many observers seem to realize. In recent years, the prospect of slower Chinese growth has gained widespread acceptance, both within and outside China. A shrinking working-age population means that 8% growth is no longer essential for full employment, it is argued, so introducing more ... (full story)
