An eye-catching statement from Wang Jian – a Chinese government economic advisor - raises the question whether China’s economy is slowing faster than many observers think.
In an interview with Reuters on Wednesday, Wang said China would have to start cutting interest rates by the year-end. With inflation fears still very much in the headlines, he is surely premature in predicting monetary easing? May be not.
Recent data from the National Statistics Bureau show a slowdown in China’s juggernaut-like growth is underway.
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