With growth slowing, will the country continue on the path of debt-fuelled growth or pursue painful structural reform?
“The biggest problem in China’s economy is that the growth is unstable, imbalanced, uncoordinated and unsustainable.” — Former Premier Wen Jiabao, March 2007
China’s economic achievements are unparalleled in economic history. The country has achieved a 10 per cent annual growth rate over the last 35 years, quadrupled per capita real GDP and lifted more than 600 million people from poverty. The per capita income currently is $8,300 and in purchasing power parity terms, it is close to $14,200.......Read more
Source: The Hindu