May 30, 2014
No, China Isn't Really Rebalancing
William Pesek, Bloomberg
The Associated Press
Since November, when the Communist Party announced epochal reforms, President Xi Jinping and Premier Li Keqiang have rarely missed a chance to say China must accept slower growth. Downshifting to a "new normal" is a necessary evil to regear the economy's growth engines to services. Six months on, all they've done is add more and more stimulus to ensure no end to massive investment and exports.