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Several decisions taken by the Chinese leader have hampered domestic consumption and scared off foreign investors, weakening key sectors.
By Francois Miguet
© Noel Celis/AFP
Published on
LTrees don’t reach to the sky, and neither does Chinese growth. After rising to 8.1% last year, it should fall to 3.2% this year, according to the International Monetary Fund (IMF). Admittedly, this would be a percentage equivalent to that expected for the euro zone (3.1%). But it would be well below the performance expected for the other “emerging and developing countries of Asia” (4.4%), according to the terminology of the institution whose headquarters is in Washington.
Above all, these somewhat abstract figures hide a major turning point. This year, China could, for the first time in forty-six years, no longer be in a catch-up situation with the world economy. Unheard of since Mao Zedong, therefore. She could m…
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