GXC - China's Growth Rebalance With Downslide
The need to rebalance China’s economic growth
China’s GDP growth last year (6.6%) was the lowest in the last two decades. In its World Economic Prospects update in January, the IMF maintained China’s annual growth rates forecast for 2019-2020 at 6.2%. Such rates correspond to a continuation of the downslide in growth (Chart 1).
China’s growth slowdown had been expected, as signs of relative exhaustion of the pattern of extraordinary growth-cum-poverty-reduction — which prevailed over the previous three decades — became clear by the start of the decade. Back in 2011, while serving as vice-president