Saturday, January 30, 2016

China to Lower GDP Target, Citing Global Economy

Reuters says Chinese central government insiders have told it the government is likely to lower its growth target to a range below 7 percent. A range of 6.5 percent to 7 percent annual growth in GDP is the current thinking, but there is still time for revision before the new target is formally introduced. Worries about the global economy could prompt leaders to choose a lower range. If there is a decline in global demand for manufactured goods, China cannot realistically expect to expand its exports this year.

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