After 34 years of booming economic growth averaging over 9% per year (the longest sustained period of rapid economic growth in human history), China’s credit-fueled, investment-driven growth model is exhausted and increasingly unstable. Chinese economic growth slowed to the lowest level since 1999 last year, expanding 7.7%.
Policymakers have recognized the need to re-balance economic growth and are now slowly transitioning away from a credit and export driven economy to one driven by consumer growth.… Read more