China' Credit Overdose

China' Credit Overdose

SHANGHAI – The days of double-digit economic growth in China are over. Indeed, the annual growth rate, which has been lingering at about 7.5% since 2012, is predicted to fall to 7% this year – and is likely to go lower. This is China’s “new normal,” characterized, according to China’s leaders, by “medium-to-high-speed” (instead of high-speed) growth. But perhaps even this is optimistic.

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