BEIJING: China’s GDP growth may still be strong by global standards, but the annualised rate of 6 per cent in the third quarter of 2019 is the lowest the country has recorded since 1992.
Instead, China’s policymakers should focus on improving the quality of growth through supply-side structural reforms – an objective that, most economists in China argue, may in fact be easier to achieve in a lower-growth environment.This approach is misguided. While structural adjustment is crucial, slower economic growth is not a prerequisite for success; on the contrary, it would impede reform.
China's normally steady unemployment rate rose to 5.3 percent in February while retail sales growth remained near a 15-year low AFP/NICOLAS ASFOURI
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